Nifty future major support 8120 tgts 8340 and 8515
Nifty future last closed at 8187 with gain.given bullish breakout above 8120 level which was major resistance for January series. Nifty future is in uptrend and if sustain above 8120 on daily closing basis. Then it will head for my January series target of 8340 and then 8515. If nifty future fails to hold 8120 on daily closing basis then it will resume primary long term corrective trend. Below 8120, nifty future remain weak and sell. targets are 7945 and then 7720. Daily closing below 7720 means super bearish trend for month and downside targets of 7550 and then 7325. price pattern is bullish but indicators are mixed and still reflecting underlying weakness in market. That why market probably go down than up. Global markets are also trading in overbought positions and domestic factors will going to hit market in short terms.