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Nifty Future Intraday Trade, Buy Nifty Future Target 5045

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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:

Nse defty for Nifty future analysis

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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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