11th July 2016 (Monday)
NIFTY JULY FUTURES
Has to trade above 8430 for further intraday uptrend
Next Resistance2 - 8510.
In-case of any possible reaction, then support below is at 8430.
Incase of any further trading below 8430, then next support below is at 8400.
Support 1 - 8430 - Next Support 2 - 8400
Market Short-term trend :
Short-term consolidation possible
Trend is positive. But Market is now facing major resistance at higher levels at 8410.
Market is now close to recent, last week's high. Nifty has to close strong above 8400, for further uptrend.
Position traders may continue long positions in Nifty or stock futures with a stoploss below 8400, on a closing basis. Market has to show strength and has to consolidate for a further short-term uptrend. Then the next major resistance above is at 8500, where a consolidation is possible.
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