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BUY NIFTY FOR TARGET 6300 LEVELS THIS MONTH

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A significant rally of 600 points was seen in Nifty last month which was overruled by profit booking in last 6 trading session. We have been bullish since 5600 levels, also a strong support in nifty is formed around 5911 i.e 50 days EMA. A jump is expected on these broader indices; as we look at the daily charts, Nifty has already formed a strong support around 6000 levels.

Our Preference for This week: BUY NIFTY FUTURES AROUND 6066 FOR TARGET OF 6152 / 6211. STOP LOSS SHOULD BE PLACED AT 6000. AS NIFTY IS LIKELY TO RETURN ON THE TRACK TARGETING 6313 LEVELS, AS SUPPORTED BY BULLISH CHANNEL BOUNDARY.

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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