Nifty Futures analysis for 10-10-2017

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nifty future 60min-091017
Nifty future 60 min chart

Nifty Future appears to move in a rising wedge formation.The break of the lower support line of the wedge will imply that the pattern may be complete and it is heading for a new low below 9695.

The day traders can buy it above 10033 with a stop loss of 10004 for the target price of 10071 and sell it below 9978 with a stop loss of 10014 for a target price of  9935 and 9904.

The positional trades can sell it if it closes below 9978 with a stop loss of 10033 or today’s high whichever is higher for a target below 9695.

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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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