Nifty Futures analysis for 11-09-2017

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NIFTY FUTURE 60 MIN-110917.jpg
Nifty Future chart for 60 mins

Nifty future continued to move in a narrow range of 122 points for the entire last week with little or no action or profit making opportunities. I expect the market to move out of the range this week.

The daily chart suggests that it is having a corrective sideways movement with a thrust in a downward direction. As mentioned last week positional long and short position can only be taken above 10019 & below 9887 respectively.

For intraday, we will go long above 9961 with a stop loss to 9919 for the target range of 10008-10018. Go short below 9919 with a stop loss of 9952 for the target of 9887 and 9851.

We can maintain a positional long or short if it closes above 10019 or below 9887.
Do not trade for first 10 minutes of the day and take the trade looking at the price at that time.

For detailed chart click here

For further trades or queries,
write back @

The author(s), or a member of their household, of this report, does not hold a financial interest in the securities of this company. The author(s) has followed “blackout periods” that prohibit analysts from trading securities of the companies they follow for 30 days before and 5 days after they issue a research report about the company, and prohibits analysts from trading against their most recent recommendations—subject to exceptions for unanticipated significant changes in the personal financial circumstances of the beneficial owner of a research analyst account. The author(s), or a member of their household, does not serve as an officer, director or advisory board member of the subject company. The author(s) does not act as a market maker/promoter/beneficiary in the subject company’s securities. The information set forth herein has been obtained or derived from sources generally available to the public and believed by the author(s) to be reliable, but the author(s) does not make any representation or warranty, express or implied, as to its accuracy or completeness.

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