NIFTY FUT 1 DAY 1 MIN:BULLISH FLAG: NF HAD MADE BULLISH FLAG AND BROKE OUT WITH GOOD VOLUMES AT 5060 AND CLOSED AT 5077
SHORT COVERING: THIS SUDDEN RISE WITH GOOD VOLUMES IN THE AFTERNOON CAN ALSO BE BECAUSE OF SHORT COVERING WHERE ALL THE SHORTS HAVE COVERED THEIR POSITION
NIFTY FUT WOULD FACE RESISTANCE AT 5080 (WHICH IS CLOSE) AND 5100 AND ON THE DOWNSIDE IT HAS SUPPORT AT 5050 AND 5030,5020
Crude price gained mildly in Asia on Monday with the market looking ahead to an update on February crude output as early as this week and new demand figures later in the month from the International Energy Agency.
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