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Nifty future bullish for Medium term, Correction is a Gift

By Bhaveek Patel 6 Comments

Watching the weekly chart of nifty future I came up with a conclusion that nifty future is in up trend for medium term. Every pullback or correction that we see must be solid trading opportunity for going long (Buying) on nifty future. Traders can take the help of indicators like slow stochastic to enter the trades, i.e time their long entries on nifty future.

Here is daily chart of Nifty:

Nifty weekly chart, find trend

Above is daily chart and as you can see the bottom formed here is higher bottom than previous bottom. So I think this can be a beginning of up trend and  I believe nifty is buying opportunity on every dips remember every correction that comes is a Gift. As of now nifty has resistance at 5200 level and breaking above it and giving a close, then nifty will have next target as 5330 level. On daily chart 100 EMA is also at 5200 zone, so it would not be easy task for nifty to break above 5200 level. Nifty options strategy will be to write (short sell) 5000 put option for July series and hold it till expiry.

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Category: Nifty Tags: Bullish Market/ Buy on Dips/ Medium Term/ Nifty Futures

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.

Comments

  1. tamanna says

    hello sir

    Reply

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