NIFTY FUTURE WEEKLY
The weeks' trading ended on the expected lines with Nity Future closing at 5053. Though Nifty Future could not scale up to 5200, it did manage to make the weekly range of 242 points (High of 5174 & Low of 4932).
During the next week if Nifty Future trades below 5040 or more specifically below 5000, it opens the possibility of breaking this month's low and go down to test the previous low of 4700. As shown on the chart, we have good support at 4700.
Looking at this weeks' candle, upside of 5200 seems to have been capped for now.
Have a nice weekend!
Ketan Asher.
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