MTECHTIPS:INTRADAY TRADING ANALYSIS FOR NIFTY FUTURE
Nifty dec expiry future today closed at 5871 with gains of 102 points or 1.77% rally in percentage wise.today nifty dec future with slight gap down opening set on rally as we given in last 3 sessions.all shorts crushed down today towards death and top on cherry Goldman sach upgraded India to overweight which drained inflow for market with record high volume.today move on long term chart was absolute breakout situation and in 2013 to 2014 we may see sharp run in nifty!! todays nifty dec future high was 5878 while low point was today’s low!!on open interest side we seen heavy build up of 68% in dec future. our given nifty 5800/5900 and also 6000 call option of jan and dec expiry minted lots of money on account of short covering from writers!! for tomorrow we expecting correction and indicators now heavily overbought.on chart we expect correction upto 5830 to 5800 on profit booking.shorts are not suggested but risky traders can go short in range of 5870-5890 with stoploss above 5910. every decline must be used for buying till 5685!!from our suggested buy are nifty given 250 points rally!! today nifty spot closed at 5825 which is new high for 2012 and now 5970 is first target for upcoming weeks on nifty spot.
Nifty future expect correction on profit booking upto 5830-5800
in dec expiry future,intraday short suggested for risky traders
only!!on decline accumulate in nifty 6000ce jan.