Nifty Future Hurdle 8430
Resistance 8500 8550
Support 8390 8350
Nifty Future has been consolidating in a side ways range on low volume since last couple weeks. The range is narrow and rally towards 8420 and higher are been sold where has the correction towards 8390-8350 are been bought up.
A clear trend will emerge once the breakout from this range happens.
On upside the hurdle for the week at 8430 once nifty future sustain this level, nifty future will run sharp for 8500-8550. On downside 8390 is 1st support below which if selling pressure increased 8350 will come next.
Trend reversal for bears below 8350. Traders holding longs keep a trail stop of 8350. if market sustain below this level exit longs.