NIFTY FUTURE WEEKLY
During the last week, Nifty Future made a higher top / higher bottom for the 5th week straight. The important point to note is that for all the weeks, the close has been strong. All this strength, thanks to FII money returning to Indian markets.
Another important point I would like to highlight is that after over 60 weeks of remaining inside the channel, Nifty Future broke out of the same - indicating strength. For the next week, we have 5400 and 5450 as major hurdles from where Nifty Future can see a 'healthy' correction.
Break of 5270 should be seen as first sign of correction setting in. On the downside 5230 & 5135 should provide support. As long as 5100 is not broken, corrections should be bought.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: There will be no separate post for Monday as the support and resistance levels have been covered above.
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