The hourly chart of nifty
future suggesting it is presently in a downtrend and in today trading session it may drop
the Index future price lower to 11200 area by retracing few points upward. There will be an alternative scenario expected towards upward direction if the price brake 11316 level in the index directly towards upward price level 11337 or may try to move 11357. Selling opportunity arises below 11247 with a target of 11200 or below price. If the market fails downward direction then you can plan for a buy trade above 11316 following with a target of 11357 or higher price level......
Mr AUROBINDA ACHARYA
(Chief Analyst TradeMan Research).