Free Nifty future and Options monthly tips for november 2016
Nifty future today closed at 8650. For month of November, nifty major pivot level is 8665. As nifty closed below it, outlook remain weak. Nifty future daily chart price pattern and indicators are suggesting downside in short to medium terms.below 8665 will remain sell and swing traders can expect 8500 and then 8335 target for nifty future for November series. If nifty sustain above 8665 then expect reversal. Weekly closing above 8665 means upside for nifty future and targets of 8825 and then 8995. Positional nifty traders below 8665 keep sell on rise view for nifty November expiry future and keep targets at 8500 and then expect downside up to 8335. Below 8335, index will be very bearish and panic will set in market. For short positions stop loss will be above 8750, which was recent top. traders can nifty 8200 put options of December expiry around 40-45 with stop loss for targets 90 to 100+ in medium terms. Traders can follow buy on dips and accumulate view for this option until nifty trade below 8665.