Nifty future hurdle 8350
Resistance 8495 8550
Support 8095 8020
What a volatility, Nifty is making 100 points up and 100 points down move just like that. Nifty closed the session on friday at 8261.20 after making the intraday high of 8296.
week ahead starting from 18th May 2015 nifty future will face hurdle at 8350 once sustain above this level 8495 will be next resistance for the week and there after 8550. On downside the support area is 8080-8020 below which 7800-7700 will be next.
The short-term trend is sideways and volatile nifty future is trading below its 200 EMA. 14 day RSI is at 44.74. MACD has given a bullish crossover in daily chart but still trading below its 0 line. The friday’s trading session witnessed very low volume. All long holding position must use stop-loss 8080 if holding for any upside.