NIFTY VIEW
Nifty View
After the last (June 2017) expiry of the Derivative contract
the rollover data shows that the maximum rollover is on the long side (Buying
Side) in Nifty. Also the data of Options contract shows that at the strike price of 9400 PE the writers
are active from the level of 9500 (as on
30 June 2017) & also at the 9700 CE & 9800 CE. So after analyzing this
data We prefer that for BUYERS in Nifty put the STOP LOSS of closing below 9450
& If you are Selling then just wait till 9800-9900 levels because as per
the charts if Nifty closes above 9700 (spot) then it will travel till 9900
& 10,000 levels. But main is to see that will Nifty break & closes
above 9700 or not?
As most of the time we say that precious metals are inversely proportional to Equity Market &
as in the previous post of GOLD we mention that there are major chances for the
gold to move towards $1125, So when the gold fall from $1209 to $1125, then
what will happen to Nifty? Surly Nifty will also move from 9600 to 9900.
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