Update for 22nd December 2010

     Nifty Future Closes Above 6000 !  

On Tuesday morning, most Asian markets were trading in the positive territory at the opening time of Indian stock markets. Nifty Futures opened higher at 5976 on the back of the positive momentum from it's Asian counterparts. It also recorded the day's low of 5970 at the opening itself. On the back of some new found strength seen in the banking stocks, Nifty future advanced to test the present swing high of 6000 in the first hour of trading. It succeeded in crossing the 6000 mark but further advances were not easily forthcoming. As such, it traded in a very narrow range of 20 points between the 6000 and 6020 marks for most of the trading day. The day's high was at 6022 and the close was at 6014.

   Nifty Futures - Intra-day Chart   

Update for 21st December 2010

    Nifty Future is Still in the Sideways Mode !  

After the long weekend, when the indian markets were opening for the new week, Asian markets were trading with losses on the back of tensions in the Korean peninsula.  The SGX Nifty future was also quoting below the previous close. Accordingly, Nifty futures too opened lower near the lower reference point at 5900. Trading remained between the  5900 and 5940 reference points in the first two hours of the trading day. But the recovery rally after the gap opening continued even though the Nifty contracts encountered some minor selling at the 5965 and 5990 levels. The day's high was at 6000. But the afternoon session saw a mild correction when Nifty futures traded lower to reach 5950. The close was at 5953. 

   Nifty Futures - Intra-day Chart