In Yesterday's trading, Nifty Future opened firm and went on to make a high of 6180. In the second half it gave up all the gains made in the opening session but closed higher at 6136. With Reliance being firm one can still hope to cross 6200 level in the coming days. Reliance has to cross 1125 to provide the push for Nifty Future to go decisively above 6200.
As Nifty Future continues to make higher bottoms and also made a higher top today - though closing was little weak, I would continue to maintain upward bias. However, as matter of abundant caution, one should consider going long today above 6155 with stop loss of 6120. On higher side it will face resistance at 6180 and 6210.
I am not suggesting short position, as below 6100 Nifty Future may find support at 6085 - 6060 and 6025. Even if these levels are seen during the day, it would be better to have positive view with suitable stop loss - particularly as we are approaching FNO Settlement on Thursday.
All the best.
All the best.
