NIFTY FUTURE WEEKLY
As expected, Nifty Future found strong resistance at 5760 last Friday and closed at 5672. The range for the week was 143 points (High 5760 & Low 5617).
Next week, Nifty Future may try to cross the trend line resistance after a correction up to 5600 levels. As long as Nifty Future trades above 5555 the bullish bias will help as Nifty Future crosses the trend line resistance at 5780, it will make an attempt to go high up to 5950 - as shown in the quarterly chart last week.
The major influencing factor for our markets would be the quarterly results which will be announced starting with Infosys.
Please keep 5555 as the guiding line for the bullish view.
With Best Wishes,
Ketan Asher.
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