nifty future : 7840 will remain as top resistance

nifty future technical analysis for 1st april 2016

nifty future technical analysis for 1st april 2016

Nifty march future today expired at 7739 with flat loss. We saw levels near 7800 but profit booking take all the gains and closed with loss.   Nifty future price trend and momentum both are bullish but indicators as well as today candlestick pattern shows topped out pattern so correction is expected.     For April nifty future 7840 is major hurdle and below it expect some correction as well as consolidation. On downside 7700 and 7640 are supports as well as target zones on correction. Short call is open for risk takers.   In option buy 7800 put option with SL above 7840 for 1-2 trading sessions.

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