Nifty future July technical analysis update
Nifty future July expiry future expired at 10022 and hit high at 10117. Nifty future given as buy for July for bullish targets 9660 and then 9820. Above 9820, nifty future will become super bullish and extended targets were 9920 and then 10080. Nifty Bull Run hit all the given targets.
Nifty 9500 call option buy position hit high near 610 from lows of 124 rupees. Almost 500% return till expiry on option position.
Now nifty future is in strong bullish trend and with great buying as well as trapped short covering momentum. Prices are overbought but in bull market prices remains in overbought conditions for months!! If falls below 10080 and sustain below it then it might trigger profit booking, till then one can hold long view and expect nifty is heading shortly towards 10400 which is my 2017 investment target.