According to technical report by R K Global, one can buy Nifty Future above 6090 with stoploss 6070 for a target of 6130.
After having a flat kind of movement for the whole session Nifty closed at 6050.15 with a bearish candle. It failed to extend its intraday gain beyond 6085, which means 6080-6100 level is providing major resistance on the upside. Except Mid-session sudden movement in Banking stocks there were nothing in the whole session. Most of the sub Indices also closed on flat mode along with indecisive Nifty breadth.
We still recommend being cautious right at this juncture as risk reward ratio looks not in favor of the aggressive buyers. On the down side it has crucial support placed at 5980, below which deep correction might occur. Nifty (Fut): 6048.95: Trading Strategy- Buy above 6090 Target: 6130 SL: 6070
Sell below 5980 Target: 5940 SL: 6000. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
