Sunday, 8 November 2015

NIFTY FUTURE NEWS UPDATE 09 NOVEMBER 2015

NIFTY FUTURE

Quarterly results session is going on, lots of companies have presented their results and some have to present. But we are not getting any result which can boost our markets. If we see Nifty’s weekly chart we can find that nifty is running in a channel in weekly chart and at present that channel getting resistance from 8300, it is showing that nifty will may go down up to 7400 that will be support of our channel as we can see in the chart. US federal’s meeting also indicating that they will increase rates in upcoming policy of December, it will be another negative point for our markets.
Bihar legislative assembly election’s result has to come on Sunday if BJP will not come than market will be open gap down on Monday, and chances for BJP are not looking good as per estimations, so we can short nifty for some upcoming sessions form current levels for the targets of 7500 with stop loss of 8380.
Call: Short CMP: 8111 Initiation Level: 7950 Book Profit (Level 1):7870 Book Profit (Level 2): 7700 Stop Loss: 8100 Conviction Level: moderate risk Reason- inverted head and shoulder Short term Trend: correction Medium Term Trend: up For the long term Traders: buy on dips For Aggressive Traders: SHORT ON HIGH, LONG ON DEEPS Support: 7400-7900 Resistance- 8100-8300 Duration: 4-5 Days
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