Nifty future and options outlook for 18th November 2016
Nifty future today closed at 8100 with loss. Nifty future price trend and momentum both are down but prices are in oversold state and at the bottom. Nifty today hit low of 8040 my given target was 8005.
Nifty trend is down but outlook remain bullish and trading strategy will be buy on dips. For tomorrow, nifty future intraday support zones are 8070 and 8000 and buying levels. On upside 8165 and then 8335 are resistances as well as target zones. Option trader’s use next month or far month nifty 8400 or 8500 call options as buy on dips for big gains.
Nifty medium to long term view remain bullish and investors keep buy and accumulate view for target 8880.