In today' trading, Nifty Future opened weak and remained renebound for better part of the day, but in the last one hour had a sharp down move - the day's high and low were 6077 and 5988 respectively. At the end of the day, Nifty Future closed at 6008. , Nifty Future has taken support at the median line . The positive for the day is that inspite of weak US markets, we did not see much downside (though market did remain nervous) and the premium on Nifty Future was restored.
For tomorrow, one can consider long position with 5985 as stop loss. On the higher side it will find resistance at 6080 - 6125 and 6155. fresh up move is possible only if 6210 level is crossed tomorrow. Till then we should treat any up move as a pull back. Hence please do not wait for a big killing but keep booking profits at any sign of weakness - particularly at the support and resistance levels indicated here. Please not we have only 6 trading days (including tomorrow) to FNO settlement day, hence that pressure will also be felt.
All the best.
All the best.
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