Nifty future is now ready for up move so our strategy for trading will to buy nifty at every dips. Also we see nifty trading above 6091 level this validate our bullish outlook. We will recommend you to buy nifty futures above 6091 for short term target of 6200 and 6222. A stop loss can be placed near 6077 level. So we are in a market that has limited downside from here and potential upside is 6200. Support resistance level for intraday is as below:
Nifty Futures Level:
Resistance: 6168 / 6200
Support: 6111 / 6091
Nifty futures trading tips (5 January 2011): Buy Nifty Future only above 6123 level for intraday target of 6166 and 6200 levels, also place Stop loss at 6111 level.
Sell Nifty Future below 6111 level for intraday target of 6091 and 6032 levels, also place Stop loss at 6145 level.