nifty entered bull zone-targets 7470-7925 stoploss 7150 closing

nifty technical analysis for 2 march 2016

nifty technical analysis for 2 march 2016

Nifty future today closed at 7236 with gains. My 7205 target achieved and nifty closed above it with fresh bullish breakout from short to medium term view.   Today nifty rallied by 227 points or 3%+ on strong volumes. Nifty is now in bull zone and above 7150 closing remain buy and accumulate.   My first target will be 7470 and above it 7925 can be possible on March series. Medium to long term traders with long positions must keep strict closing basis stop loss below 7150 and expect upside targets.   On option side, writers capitulation seen. My Nifty 7000 call option rallied from 94 to almost 300 rupee premium. Expect target 500+ with trailing SL.

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Pramod Baviskar

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