MTECHTIPS
Mtechtips NIFTY FUT intraday trading analysis 26-10-2012
Nifty spot on expiry day closed at 5705 with gains of 14 points or +0.24%.today nifty after opening gap down hit low of 5685 while high point of the day was 5718. tomorrow,on friday Indian capital market remain closed on holiday of Bakri EID.so on monday nifty November future contract will active contract for trading.for monday nifty intraday support levels are 5688 and 5605 while on upside major resistance levels are 5775 and 5860.on intraday chart nifty is in bullish trend and with flat bullish momentum on consolidation. on end of day chart,nifty successfully closed above weekly average of 5680 and trading above all major averages.here rsi and cci continues buy signal while macd still with sell signal on upside top of 5800 is major supply zone for nifty prices.
For monday traders should stay on buy side
and buying should be done in zone of 5680-5695
with stoploss below 5650 and expect 5775 as first target zone.
nifty option traders can buy nifty 5800 call option for intraday.
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