Nifty Fut View
Nifty futures traded with firm sentiments last week tracking selling pressure in USD/INR futures prices and buying support from traders. It likely to trade with volatile sentiments in current week on profit booking at higher levels from traders. It witnessed good buying support at lower levels from traders last week which indicates continuation of firm sentiments in current week as well. If it managed to sustain above 9050 level than it may witness firm sentiments till 9300 levels. Breaking of 9000 level with good volume will make Nifty bearish and down side may come due to selling pressure below that level. Overall trend for Nifty futures likely to remain positive for the week and may witness some profit booking at higher levels which may limit the upside in Nifty. Technically, It took resistance of Fibonacci retracement levels which indicates continuation of volatile sentiments. 9200 will be the Crucial level to watch out for in current week. Fall in volume and Rise in open interest with firm price movement indicates sideways sentiments in current week.
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