nifty future outlook for next week 28 june to 3 july 2015
Nifty spot on last trading session closed at 8381 with loss. On daily chart, price trend and momentum both are bullish but indicators are in overbought zones.
On downside, 8330 is 3 month average and 8245 is 1 month average both are strong support zones for next week. Daily chart indicators are still with bullish divergence but approaching overbought area. Macd is positive but showing early signs of topping out pattern.
Above 8310 spot keep long view for target 8620 and above. But as Greece crisis Deepening and china market volatility increasing we may see sentimental impact on market and nifty might see limited upside and wide downside.
Technically nifty future still strong and remain buy but with strict stop loss in place.
This week nifty closed with gain. This was second positive weekly closing for this index. On weekly chart trend is near breakout and indicators are with buy signal but still below major averages so reversal from here means higher chances of fresh low for nifty in medium terms.
Option traders above 8300 spot, paly with 8200 call options in intraday as well as positionally. While below 8300 keep accumulating 8400 put options with risk based stop loss.