Nifty future weakened just after the Q3 GDP numbers were announced, market saw a nose dive sectors that hit maximum was the banking sector. Bank nifty future also tanked about 3%, today it made high of about 10786 and now making low of 10438. For intraday this is just a large movement, we are now advising to short nifty future around 5435 level for immediate single target of 5400, placing stop loss at 5455 zone. Bank Nifty future can also be shorted around 10585 for target of 10485 and then 10445. Today’s important event is in Europe with European Central Bank’s (ECB) second 3 year long-term refinancing operation (LTRO), this will have high impact on currencies and stock market across world. Nifty future is more likely to weaken, so is the intraday trend. GDP numbers for Q3 stood at just 6.1% against estimate of 7.1% by the dalal street experts. 8KZBDSBVGMH3
About Bhaveek PatelBhaveek 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.
target met in intraday nifty future and any tips in option for next week?
If we find any trade setup we will publish it. keep visiting for free trading ideas.
Sir, any trading idea in nifty future for next week, i have also started trading bank nifty future. I would appreciate if you publish articles on bank nifty future along with nifty future.
Thanks,
Darshan