May 24, 2015
NIFTY (June Fut)
` 7625
` 7745 - 7725
` 7945
5 - 10 Sessions
The Nifty is now trading slightly above the recent swing low of 7678.35, which almost coincides with the daily ’89 EMA’
as well as the ‘Parabolic SAR’ indicator.
At the current juncture, if we look at the ‘Fibonacci Time Series’ from the bottom of 6825.80, the Nifty has completed its
8th Time zone (21 days) and has entered the 9th time zone of ‘34 Days’ on Monday.
Generally, such points are seen as ‘Potential Reversal Zones’ and hence, as long as the Nifty manages to hold 7678.35,
we would hope for this new ‘Time Zone’ to turn positive for our markets.
Looking at above technical evidences, we advise traders to buy NIFTY June Futures at current level and on declines up to
` 7725 for a target of ` 7945 in coming 5 - 10 sessions. The stop loss for this trade set up can be kept at ` 7625.
DAILY CHART (Nifty Spot)
Source: Falcon (Chart time - EOD as on May 23, 2016)
Last recommendation
Recom. Buying/Selling
CMP Target 1 Target 2 Stop-loss Status
29-04-2016 Nifty May Fut.
7910 - 7890
SL Triggered
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