MTECHTIPS NIFTY FUT intraday trading analysis 13-06-2016

MTECHTIPS NIFTY FUT intraday trading analysis 13-06-2016
MTECHTIPS Nifty weekly chart price trend is strong bullish but indicators are in overbought zones suggesting underlying buying as well as short covering momentum. Nifty next bullish wave will have its targets around 8380 to 8450. Above 8450 expect another sharp short covering rally from trapped hands for target 8570. Future traders can use 8105 and 8040 levels if found as buying opportunity with stop loss for swing targets 8380 and 8570. Option traders use 8300 call options as buy on dips strategy for June series. Nifty will change trend on closing below 8040.
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