NIFTY Futures- Now has a higher base

NSE:NIFTY   Index of the 50 listed India companies
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Market Bytes 08-Jun-2016
Nifty             futures: Finally broke out of the congestion zone and broke out above 8265. Now NIFTY             futures has a base at 8250 , which is the trend decider for today. Until it sustains above it look for long side trades. On the upside one challenge is good CE open interest build up at 8300-8400 levels this means any upmove further will be challenged.Upside target is at 8350 zones for now.
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Comment: Market Bytes 09-Jun-2016
Nifty futures: Marked not so encouraging patterns on the intraday charts marking two identical tops and a lower high with respect to previous session. This as we discussed every up move will be challenged. Intraday trend decider now is at 8280 levels and use this level for long side or short side trades. On the downside a break of 8280 can lead to a test of 8250 levels and lower. Upside near term targets remain at 8340-50 zones.
#nifty #nseindia #sensex #stock
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