Nifty future near term support at 5630 level, Buy on Dips

by Bhaveek Patel · 6 comments

in Nifty

Nifty future corrected from 5825 level and have been correcting for last 3 days. But still chart suggests, the trend is bullish and so we will still be on the long side of trade. Recent development has lead the risk-on rally in the global market, I believe this will be strengthening further as this is only a temporary pullback in an uptrend, which should be treated as an opportunity to buy into nifty future. I am more highly bullish on capital goods sector and other stocks like, ZEEL, MCDOWELL-N, etc.

Trading idea on Nifty Future: Buy nifty future only around 5630 level for a positional target as 5830, stop loss will be 5590 level. Risk reward ratio is greater than 1:2 here so, risk is less as compared to reward. Article published on 10-10-12.

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{ 4 comments… read them below or add one }

1 krish

i dont see any more upside near this month in the charts. macd is nosediving in daily basis

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2 Bhaveek Patel

In my view, nifty is in uptrend and so any pullback must be utilized as buying opportunity. This is reason, why I wont take any short sell trades on Nifty.

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3 krish

you are right sir!.

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4 trader

Can I still buy nifty future.. I am also bullish on banks.

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