Nifty Future shut shop at 8244.05 with the net weekly loss of 74.75 points

Mr. Vivek Gupta, CMT - Director Research, CapitalVia Global Research Limited

Nifty April Futures series begun the week on negative note, and continued to trade with the same sentiments , it breached the 200 days moving average and register a low of 8136.80 in weekly trading session, Volatility was witnessed as traders roll over their position from the April derivative contracts to May. On global front US Federal Reserve offered no changes in its zero interest rate policy following weak first- quarter GDP data.

Nifty Future shut shop at 8244.05 with the net weekly loss of 74.75 points.

In near term we may see some positive move in Index with the crossing of its immediate resistance level of 8350, if it manages to sustain above this then it may surge till the levels of 8600 while support for the Nifty Future is at 8100 with the breach of this level it can test the next crucial support mark of 8000.

Source : Equity Bulls

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