Today nifty future has been weakening but we see a support level do exist near 5930 level, so our initial strategy for today is to buy nifty futures near 5935 level for intraday targets of 5972 and 5986. If nifty dont sustain above 5925 level then we are going to see bears active and markets will move to its next support of 5828. The trend will be mixed today following the european markets. Nifty Future trading range will be wide, as shown in the support resistance levels.
Resistance: 5974 / 5988
Support: 5930 / 5828
Nifty futures trade today (8 December 2010): Buy Nifty Future Above 5935 level for intraday target of 5972 and 5986 levels, also place Stop loss at 5922 level.
Sell Nifty Future below 5912 level for intraday target of 5869 and 5828 levels, also place Stop loss at 5945 level.