nifty future weekly technical analysis-expect recovery up to 7205

nifty future technical analysis for week 29 feb to 4 march 2016

nifty future technical analysis for week 29 feb to 4 march 2016

Nifty future this week closed with loss. Almost 300 points wide swing was given by this index in this week and closed with losses. Trend is still down but momentum is building towards recovery side on daily chart. Weekly chart still negative and suggesting downside. For next week, nifty future support zones will be 6950 and 6840 while on upside 7205 is major hurdle and remain as strong resistance. Closing above 7205 and sustaining above it will open target of 7600. Traders can follow buy on dips strategy for next week with minimum target of 7205. Stop loss should be below this week’s low of 6960. Option traders can use same strategy with stop loss for nifty 7000 call options.   for genuine future tips and option tips by sms visit subscription page.

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