It has been found that the Nifty future is in a complete negative trend from the starting of this month, as on the 1st June it showed a month-high of 8484 and it made a consecutive daily fall except on 10th june.
The downfall was clearly shown on daily closing as follows.
8431
8225
8136
8141
8114
8044
8030
8120 (raised on short covering and news on sugar industry and road projects)
7959
If further heavy fall occurs in the market as well as in Nifty futures it will find a bottom at
7697 and if further there is no support seen in the market it won't hesitate to come down to
7435
If a bounce back takes place on tomorrow or day after tomorrow it may find an intermediate level at
8090 and it may also reach an intermediate level at 8222
So Nifty future traders can short at high and buy at low as we indicated in our earlier post.
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