With reference to the last month series, the broader market made attempts to come up at end of every fall.The global cues and news on RBI's announcements,monsoon make a jolt at the Nifty and makes the traders to watch the screaming window seamlessly.
The current month Nifty futures may not be affected by the global cues like Greek's crisis and crude prices and some more events in other parts of the world. Looking in to the monsoon and additional infusion of capitals to PSU banks are the supporting factors to Nifty and make the traders to cheers.
The journey of July Nifty future is started from 7965 level at the mid month of June.This journey was a reverse or fall in price from 1st June, because on June 1st it was traded at 8519.
The closing price of the Nifty on yesterday at 8420 indicates that it may move further above 8500 sub levels.
We have determined the levels of Nifty for the July series as follows.
Upper side target: 8880
Downside target: 7675
The following levels in options are to be considered for trading in this month.
CALL option: 8600
PUT option : 7900
The option writers can have the following combination with 10 points profit and 10 points stop loss (this has to be revised daily,refer our site daily) as follows.
Nifty 8700CE+8000PE
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