The Nifty closed 3rd consecutive week in positive territory. It’s slow but steady continuing its positive momentum further towards short term targets levels as expected last week. It made a high of 8489.55 levels on nifty during week.
The National Stock Exchange's Nifty, with its highly liquid futures and options can be traded conveniently in either direction. A trader will buy the futures when he thinks other people are buying and sell if he thinks the index is likely to go down.
The Nifty closed 2nd consecutive week in positive territory. It formed lower bottom near recent lows of 8089 levels on nifty & 26750 levels on sensex during this week. It’s a good confirmation to conclude short term reversal.
NIFTYCurrent: 8,127 (fut: 8,130)Target: NAStop-loss shorts 8,205. Stop-long positions at 8,050.A long 7,900p (70), short 7,800p (49) costs 21. it could gain 15-20if the futures falls below 7,950-7,975.BANK NIFTYCurrent: 17,629 (futures: