Research Analyst (SEBI Registration Nos: INH000004501)
Nifty Futures analysis for 06-10-2017
Nifty future continues to rise in a corrective pattern with no signs of reversing. The high P/E ratio 25.69, the low India VIX of 11.71, the regular selling by FII`S and the contracting price range of it and many another indicator such surge in IPO`S with extreme valuations does indicate that this rally may end soon. I am not recommending any positional position in it yet and would like to look for the confirmative price action to support my view.
The day traders can buy it above 9932 with a stop loss of 9909 for a target of 9983 and sell it below 9909 with a stop loss of 9936 for a target of 9843.
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VINAY AGRAWAL is SEBI registered Research Analyst. (Reg no INH000004501) with an excellent grip on technicals analysis, fundamentals and equity derivatives. Vinay Agrawal is a Technical Analyst. He has a vast experience of 26 years in the financial markets. He is the director of Blue chips corporate services Pvt Ltd, which is engaged in stock broking. Disclaimer: Investment are subject to market risk. No representations shall be entered that the predictions made by us herein will be profitable or otherwise. Readers using this information are solely responsible for their actions. The information is based on our personal assessment/judgement and we shall not be liable for any losses and damage.
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