Today nifty future has been weakening but we see a support level do exist near 5827 level, so our initial strategy for today is to sell nifty futures near 5990 level for intraday targets of 5827 and 5778. Nifty is trading below 5933 level we are going to see bears active and nifty must move to its next support of 5827. The trend will be negative today following the European markets. Nifty Future trading range will be wide, as shown in the support resistance levels.
Resistance: 5968 / 5978
Support: 5827 / 5778
Nifty futures trade today (9 December 2010): Sell Nifty Future near 5890 level for intraday target of 5827 and 5778 levels, also place Stop loss at 5925 level.