Date: 8 June 2012. NSE Defty (Nifty in terms of US Dollar) has support on daily chart at 3135 level, right now this index is seen taking support and we will be looking for taking long positions in nifty future around 4985 zone with intraday target as 5020 and 5045 levels, stop loss should be placed at 4975 level. Slow stochastic indicator is oversold right now and bounce should be expected in nifty future, we may also see strength in Indian Rupee.
Refer the NSE defty chart below:
For daily intraday and positional calls on Nifty Future and Bank Nifty join us on Twitter or Facebook. Subscribe to our free SMS list. If you are interested in learning technical analysis then call me on +91-9970777789.
Leave a Reply