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Which direction nifty futures will move in this month?

By Bhaveek Patel Leave a Comment

Looking at the daily charts we see nifty future will be moving much higher in coming trading sessions. Global markets like DOWJONES and S&P 500 are ready for fresh up move as momentum has already started to build on charts. We are now looking for buying opportunities on nifty future we have also positioned our self in bank nifty future, however we have written NIFTY 5600 call option and on lower side we have shorted NIFTY 5000 put option. As nifty at 5000 is strong support and 5600 level is immediate resistance, at this point I would recommend to buy into some decent midcap and small cap companies like Bata India, GRUH, Ajanta Pharma, Kajaria ceramic, TTK Prestige, Titan, Amara Raja Batteries, Asian Paint, Blue Dart, CERA, CRISIL and Fag Bearing are some of the best midcap stocks. These stocks have been in uptrend no matter how the market is moving, so these stocks are must have stock for a healthy portfolio. Target for nifty future in this month series is 5400 and then 5500 level, for all the long positions stop loss must be placed just below 5200 level. Technical charts are suggesting us of a clear uptrend in near term, so take the advantage of Bull Run before you miss it out.

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Category: Nifty Tags: F&O Series/ midcap stocks/ Nifty Future

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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