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 ... [Continue Reading]
NSE Defty is Trading near Support, Bounce in Nifty Future Likely
NSE Defty index (Dollar weighted index for NSE Nifty, so here nifty is moving lower as well as INR (Indian Rupee) is moving lower hence the portfolios of foreign investors (FII) are suffering much loss then Indian investors, as most of the foreign players use NSE Defty as their benchmark index for performance. Today I am seeing that NSE Defty has been near its support zone of 2960-2980 I am ... [Continue Reading]