Nifty future achieved 8335 and 8165 targets

Nifty F&O outlook for 10th November 2016 Nifty F&O outlook for 10th November 2016 Nifty future today closed at 8478 with loss. We today saw high volatility on Currency Swap Scrapping and on trump victory. On downside nifty future achieved its sell targets of 8335 and 8165. Below 8165, next support as well as target was 8005 which almost achieved with low of 8074. We almost saw 400 points range and strong recovery from lows.   For tomorrow, below 8500 nifty future traders can follow short view and expect targets of 8400 and then 8335. If nifty future sustain above 8500 then expect another short covering rally up to 8665. But below 8665 overall outlook and strategy will remain sell on rise.   From medium to long term view, nifty future achieved its target of 8155. If nifty future slips below 8155 and sustain below it for 1 to 2 weeks then that will be very bearish signal from long term view. Below 8155, nifty long term targets comes around 7200.   For tomorrow, nifty option traders can buy nifty 8300 put options around 40 to 45 with stop loss for targets 80 to 90 rupee in premium.

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Pramod Baviskar

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