Nifty Future For 28/08/2012


NIFTY FUTURE: Last close 5362.40
Nifty closed down 36.45 points at 5350.25 while Nifty Future closed at 5362.40, premium of 12.15 points
FII bought in Cash (Net buy 200.39 Crore) DII sold in Cash (Net sell 500.72 Crore) FII sold in stock future, index option but bought index future (Net sell 553.76 Crore) Nifty Futures is testing significant support level. Fresh short position is recommended with tight stop-loss only if Nifty Futures declines below 5351 levels. After lot of volatility it closed in a very negative zone which shows sign of weakness in coming days. We could see further selling pressure below 5351. On the lower side expect it to slide upto 5317, Break will take this to 5279 & there after free fall up to 5255 not ruled out. Protect short position with stop loss of 5402..!!!