Markets may witness profit booking after 4 day upside. We expect profit booking in nifty near 6027 levels today, however we are expecting volatile session today. Today’s strategy should be to Sell Nifty Futures below 6027 level for intraday target of 6000 and 5988. The trend will be mixed to negative. Today’s trading range is shown in the support resistance levels below.
Resistance: 6036 / 6055
Support: 5986 / 5964
Nifty futures trade for today (3 December 2010): Sell Nifty Future below 6027 level for intraday target of 6000 and 5988 levels, also place Stop loss at 6038 level.
Buy Nifty Future above 6045 level for intraday target of 6065 and 5979 levels, also place Stop loss at 6022 level.