Nifty Futures analysis for 19-09-2017

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nifty future -60min-180917
Nifty Futures 60 min chart


Nifty future gapped up higher and closed at a new high. Even now it appears that it may move higher up to 10229-10237 region.

Buy it above 10190 with a stop loss of 10159 for the target of 10229-10237 region. Above this, the next resistance is at 10267.

Sell it below 10140 with a stop loss of 10171 for the target price of 10091 and 10065 for the day.

A break of 10065 and close below it will give the opportunity to maintain a positional short position for a much lower target of below 9710.

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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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