Nifty Future R1: 8107 R2:8153 R3: 8231
Pivot: 8029 S1: 7984 S2:7905 S3:7860
CHART INTERPRETATION :-
Nifty spot close at 8069.65 on Thursday . At higher side, important level 7980-8000. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.
At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800. At lower side nifty support level may be in the range of 7750-7650.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK :-
NIFTY FUTURE :-
Nifty closed at 8062.65 on Thursday . Bulls have taken complete control over market on Thursday, the expiry day for May Nifty derivative contracts. Value buying in infra (majorly L&T) and banks helped the Sensex (that rallied more than 500 points intraday) and Nifty end at fresh 2016 closing high.
INTRADAY STRATIGY :-
Buy Nifty future above 8100 for the tgt of 8150-8200 sl 8030.
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