NSE Defty index (Dollar weighted index for NSE Nifty, so here nifty is moving lower as well as INR (Indian Rupee) is moving lower hence the portfolios of foreign investors (FII) are suffering much loss then Indian investors, as most of the foreign players use NSE Defty as their benchmark index for performance. Today I am seeing that NSE Defty has been near its support zone of 2960-2980 I am expecting Nifty future to bounce and also rupee should be making top around 56 level against USD. Moreover I will advice trader to buy nifty 4800 call option at 64 for target of 120 in 2 to 3 days placing stop loss at 40.
Positional Trade on Nifty Future:
Also those who don’t want to take risk with nifty options trade can buy nifty future around 4785 for positional target as 4855 and then 4900. while stop loss at 4740 level. This is excellent call worth taking and risk reward ratio is also perfect. traders may also accumulate baank nifty future at 9090 for target as 9250 and 9330 level, stop loss level will be under 9035 support zone. Want to learn technical analysis like this, call +91-9970777789.