MTECHTIPS NIFTY FUT intraday trading analysis 11-06-2015

(Before It's News)

MTECHTIPS NIFTY FUT  intraday trading analysis 11-06-2015

MTECHTIPS nifty june expiry future today closed at 8119 with gains of 89 points. nifty future still trading with 5 points discount shows low confidence of this recovery rally on short covering. nifty bounce back from oversold zones. on downside 8055 is now support and stop loss for long trades. on upside 8125 and then 8305 are strong resistances for spot nifty on daily closing basis. today we closed just below 8125. on option side 8000 put option writing suggesting strong psychological support is holding. for tomorrow 8055 is stop loss for long side with price targets 8200 to 8220 or option traders can buy 8100 call options for intraday gains. below 8055 open fresh shorts for target 7920 or in that scenario option traders can use 8200 put options for buying and accumulation.

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