NIFTY FUTURE WEEKLY
As written in this column, nifty future made a remarkable comeback last week.
For the coming week the all important pivot point is placed at 5246.70.
Crossing this week's high of 5297, nifty future will move into the resistance zone of 5335-5375.
Trading above this resistance zone with volumes, the euphoric bulls will take the index to
5418, 5455 and 5490.
However, reversal from the above mentioned resistance zone will induce correction in nifty and
index will move to 5250, 5230 and 5215.
In the above chart, it is clearly seen that 5170 has become confluence support region in terms of
fibonacci levels.
Break and trade below 5170 will make index outlook negative and nifty will correct to 5100.
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