Nifty Future Levels

Nifty future closed with the moderate losses and continued the downtrend in fourth consecutive intra day sessions. Overall market was in range bound movement for the whole week. As we had already mentioned in our previous report that nifty future could face the resistance close to the level of 5400 & could face some profit booking on higher levels. Now the next support for the nifty future seems to be at the support zone of 5200 to 5205. Closing below this support zone may indicate some trend reversal in it. Still in nifty future buy on dips would be recommend for the traders with the stop loss of 5200 for the upside target of 5360 & 5380 from the current levels.