MTECHTIPS NIFTY FUT intraday trading analysis 27-07-2015

MTECHTIPS NIFTY FUT intraday trading analysis 27-07-2015

MTECHTIPS Nifty Spot On Last Closed At 8521 With Loss. This Week Nifty Closed With Loss. This Week Nifty High Was At 8654 While Low Was At 8498. Total 160 Points Week Range And Closed With Loss. This Was First Weekly Loss After Last Week Strong Gains. On Weekly Chart, Nifty Price Trend Is Bullish And Still Trading Above Major Averages But Momentum And Indicators As Well As Price Pattern Is Weak Suggesting Correction In Upcoming Weeks. On Weekly Chart, 8430 Is Major Averages Support Zone. On Upside 8650 And 8840 Are Resistances Of Previous Highs. For Next Week, Nifty Support Zones Are 8430 And Then 8360. These Are Target Zones For Next Week As Current Price As Well Indicators Suggesting Correction Ahead. On Upside 8765 Is Strong Resistance And Target On Reversal Rally. In Panic Situation Expect Deeper Sell Off Up To 8260. Nifty Future Traders Keep Short View Or Hold Shorts With Stop Loss For Targets 8430 To 8360. Option Traders Can Use 8600 Put Options For Buying And Accumulation On Decline With Strict Stop Loss In Place.
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