MTECHTIPS NIFTY FUT intraday trading analysis 04-04-2016

MTECHTIPS NIFTY FUT  intraday trading analysis 04-04-2016

MTECHTIPS Nifty future in March series given almost 800 points recovery. In Feb series we saw 800-900 points sell off. March series opened in green and showing gains. Nifty future monthly chart price trend is still bearish but momentum is strong bullish and value buying as well as trapped short covering supporting market. On upside 7900 to 8200 is major supply zone and if nifty takes out these levels then it will clear long term bull resistances and there will be hope for new high.In March series, nifty future achieved my given targets 7150 then 7470 while 7925 missed by 150 points. For April series, nifty major support is at 7520 and nifty might test it before moving upward. On upside my normal targets are 7995 and then after 8250. While 8500 and 8900 are super bullish environment targets. If nifty future slips below 7520 on weekly closing basis then that will be fresh breakdown for targets 7270 and then possibly 6790. These are also strong support zones on downside. Swing Future traders can buy nifty near 7500 for best risk reward with stop loss for targets 7995 and 8250. Option traders near 7500 levels can follow buy and accumulate view in nifty 7900 or 8200 call options of far months with stop loss. In my experience, nifty reversed from 7200 which was yearly s1. And heading towards 8175 pivot. This technical pattern is very bullish and my nifty 2016 targets are 8900 and then 9800 if it successfully cross 8175 on monthly closing basis on price and volume. Below 7200 next support is at 6400!!

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