Friday, September 2, 2011

Nifty Futures Tips: Market Trend and Trading Strategy

The Spot nifty, prevailing its bull run, scored 39 points and closed at 5040. A spike was seen in the very initial hour of trade and it touched a high of 5114 but then slipped down to 5006 (day low) on profit booking.
Fresh buying was seen in RIL, ICICI bank and SBI.

Bank Nifty Futures added 43.70 points and closed at 5046.70. The trend is looking bullish and 5080 is seems to be crucial level for upside and Nifty may touch 5140 mark above this level. A broader bearishness is looking only below 4980 mark.

Traders can initiate long above 5068 for the targets of 5080-5100-5130


Posted By Commodity MCX Tips