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Buy Nifty July Future on Pullback, Target 5300 level

By Bhaveek Patel Leave a Comment

Yesterday we have asked our readers to rollover the long positions of nifty future to July series. However we were not sure when the bounce will come, but today we have seen gap-up opening. Those who missed to enter long in nifty, need to wait here for a pullback towards 5200 – 5220 zone to re-enter long positions. Short term positional targets will be 5290 and 5360. Stop loss must be below 5190 zone. Previously 5200 level was a resistance and now on breaking above this resistance, 5200 level has now turned into support. See the nifty chart below:

Nifty future july series pullback trade

Nifty option traders can buy nifty 5300 call option on pullback around 65-68, target will be 98 and then 116 level. Stop loss must be 5190 level of nifty July future. Traders can learn how to study charts using our Technical analysis course, call +91-9970777789 for more details. Article published on 29 June 2012.

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Category: Nifty Tags: Nifty Future/ Nifty Support/ Pullback

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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