MTECHTIPS:INTRADAY TRADING ANALYSIS FOR NIFTY FUTURE
Nifty future dec today closed at 5926 with 15 points gain or 0.25% percentage wise.today nifty future with gap down opening hit low 5892 while today high was 5928 and closed near high.total 36 points narrow movement with 0.19% open interest build up.showing signs of consolidation but correction is still due for tomorrow also we having bearish view on nifty and for very short term upside is used for shorting new positions with stoploss.on downside still expecting 5850-5820 in this week. technically overbought but any fundamental news can support rally and push momentum on upside so strict stoploss must be applied to all shorts.option traders still look at nifty 5900 to 6000 pe dec for very short term trading. some time these small upside are trap for long side traders and this time look like that?
Nifty future below 5908 go short for for targets of 5850-5820
option traders must buy 5900-6000 put options.
for all shorts must keep strict stoploss.