NIFTY FUTURE | 02 JANUARY 2016

NIFTY FUTURE

Nifty has broken its important resistance which was at 7950, now it is looking good up to 8100, at 8100 it will take resistance of a channel as you can see in the chart, till 8100 we can buy it, if nifty will given closing above 8100 than it can again touch the level of 9000 and above. In lower side it has support at 7900 and 7800 level.

Date: 04/01/16

Call: Long

CMP: 7761

Initiation Level:  7965

Book Profit (Level 1):8000

Book Profit (Level 2):  8100

Stop Loss: 7900

Conviction Level:  moderate risk

 

Reason- channel line

Short term Trend: recovery

Medium Term Trend: up

For the long term Traders: buy on dips

For Aggressive Traders: SHORT ON HIGH, LONG ON DEEPS

Support: 7900-7850

Resistance- 8100-8200                                                                                      

Duration: 4-5 Days

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