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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i dont see any more upside near this month in the charts. macd is nosediving in daily basis
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.
you are right sir!.
Can I still buy nifty future.. I am also bullish on banks.