Nifty Future Hurdle 8682
Resistance 8715 8750
Support 8590 8560
Nifty future again breaks out on fridays trading session and made life time highs at 8668 and closed the week at 8638.35. Momentum indicator RSI has turned upwards again. Stochastics oscillator also showing signs of positive momentum and with price action as seen on fridays bulls are in full control.
For Monday’s Trading session 8682 on upside is a crucial hurdle if this level holds for mondays session expect next round of buying for 8715-8750. On downside the supports for Nifty future is at 8590 below which 8560 will act as a strong support. Two close below 8560 will make nifty correct for 8400 and lower.
High Risk Trader’s Can Enter Put 8700 December In Rally Towards 8685-8715 with proective stop loss of 8800