Market intraday report for 7th December 2016

Nifty future might touch 8280 resistance

Nifty future might touch 8280 resistance

Nifty future today closed at 8164. Nifty future is in downtrend but seeing some buying on lower levels on rate cut hopes. Nifty future price pattern suggesting nifty is heading for 8280 resistance to touch it. For tomorrow, nifty future intraday support zones as well as buying levels are 8135 and 8105. While on upside traders can expect nifty intraday targets around 8220 and then 8280.   Positional traders watch this week nifty closing for fresh long or short positions. Below 8280 my view is bearish and remain sell on rise.   Option traders can buy nifty 8200 call options on decline for intraday with stop loss. Expect big gains for 8200 call options if nifty future hit 8280 level. Long term view above 8155 remain bullish and buy for target 8880. Banknifty future short term bottom 18250 tgts 18600-18760

Banknifty future short term bottom 18250 tgts 18600-18760

Banknifty future today closed at 18478 with gain. Banknifty future price trend is down but momentum still bullish as we seeing continue buying on lower levels. On downside banknifty made short term bottom at 18250 and remain as stop loss for long positions.   On upside my short term bullish run targets are 18600 and then 18760. From positional view, banknifty future below 19000 remain weak and sell on rise but current reversal move has its targets around 19k for short terms.   Option traders can buy banknifty 18600 call options on decline for short term gains. Expect big rise in premium if banknifty future hit 19000 level.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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