Last week nifty futures gained 104 points and closed at 10684 very near to its all time high of 10695. Nifty futures have risen for the sixth week on a weekly closing basis. We have seen such a similar pattern of 6 weeks consecutive increase in October 2014. Prior to that we have seen Nifty futures closed on higher note continuously 7 weeks in January 2012. We must wait and see whether we are going to break the records or melt under overheated market.
Monday could eventually see Nifty making new highs and we must wait and watch the moves closely.
Bank Nifty futures is getting ready for a long jump if not a pole vault. It must necessarily cross 25795 to clinch 25867/975.
Nifty futures range 10580-10735.
Bank Nifty futures range 25650-25900.
A daily close above or below these numbers decides the breakout or breakdown in Index.
Get ready for a surfing and catch Options based on the above levels.
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