nifty future technial analysis for 8th june 2016

nifty future technial analysis for 8th june 2016
Nifty future today closed at gain at 8283. Nifty is inching higher in overbought state on strong buying momentum as well as trapped short covering.
For tomorrow, nifty future above 8265 remain bullish and buy. On upside 8300 and 8355 are strong resistances as well as intraday targets. While on downside 8265 and 8230 are strong supports.
Below them expect sharp sell off as well as profit booking.
Future traders above 8265 keep long view for intraday for targets 8300 and 8355. Below 8230 expect fresh short sell signal for target 8040.
Option traders can buy nifty 8300 call option with strict stop loss below 8260.

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Pramod Baviskar

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