NIFTY FUTURES : Fresh positions may be avoided. Market need technical correction.

NIFTY FUTURES

Last close 11439.25

Fresh positions may be avoided. Market need technical correction. Now the correction appears to be orderly and logical. Now chances are that we’ll see a meaningful correction soon. Still we continue to remain highly bullish in long term. Technically Nifty future has to cross above 11504, We don’t think this will happen in hurry. Time-being we see healthy correction, Technical’s suggests that the few days ahead can be painful for bulls. So now we remain doubtful of its ability to break past 11504. Traders can remain short for an lower target of 11391, Break will take this to 11338.