NIFTY FUTURE : R1:8731 R2:8776 R3:8807
PIVOT :8699 S1:8655 S2:8623 S3:8578
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| stock futures tips |
- If upcoming results support then this positive movement would continue till 8700 levels for Nifty .The only strategy for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. And Expectations of a good monsoon have once again reinforced the confidence among market participants that the growth may come back on a good note, timely onset of the monsoons will be a positive for the markets. A strong break below 8500 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8500.On the other hand, a decisive break above 8635 will ease the downside pressure and take the index futures higher to 8650 and 8700 thereafter.
- Mechanical indicator stochastic RSI also showing consolidated trend.
NIFTY FUTURE: After gaining for two consecutive trading sessions, the Indian equity market closed lower on Friday. The key benchmark indices dropped in the morning trade on Friday on profit-booking by participants as the August derivatives series began on a negative note. Today’s decline was led by the telecom, consumer durables, and banking, metal and realty stocks. On the other hand, auto, pharma, oil & gas and utilities stocks were among the major gainers. The Bank of Japan’s policy decision, weighed on investor sentiment too.
STRATEGY: Buy Nifty Future above 8670 for the target of 8720 -8780 with the stop loss of 8600.
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