MTECHTIPS NIFTY FUT intraday trading analysis 30-05-2016

MTECHTIPS NIFTY FUT intraday trading analysis 30-05-2016

MTECHTIPS Nifty future this week closed with strong gains at 8170. We saw strong short covering as well as fresh buying by FII around 7750 levels. Nifty above 7820 touched its first tgt 8110 and now heading towards 8325 which will be tgt zone for next week. For next week, nifty future outlook remain bullish and strategy remain buy on dips. For next week, nifty weekly chart resistance levels are 8220 and 8325. While on downside 7960 and 7920 are strong support levels. Future traders above 7920 keep buy on dips view and keep tgts at 8220 and then 8325.Option traders exit put options and buy on dips in nifty 8300 call options.

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