Nifty Futures analysis for 13-10-2017

nifty future 60 min -121017
Nifty future 60 min chart

The Nifty Future advance of 118.9 points yesterday was not on my expected direction. The Bearish Engulfing pattern which it has formed yesterday failed. This indicates that some more steam is left for it to the upside. Even though the most of my market indicators which I use does indicate the loss of momentum on the upside, I will wait for the price action of it to give some evidence before I commit to some position in it.

The day traders can buy it above 10093 with a stop loss of 10049 for the target of 10178 and sell it below 10049 with a stop loss of 10095 for a target of 9983.

If Nifty future manages to cross the previous high of 10189.9 than this rally further with the target of 10377.

The Reliance Industries Limited and HDFC Bank contributed 43.17 points out of 111.6 points which Nifty50 gained yesterday.

Buy Reliance Ind above 873 with a stop loss of 859 for the target price of 908.

For further trades or queries,
write back @ vinayagrawal1411@gmail.com

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.

 

 

Author: Vinay Agrawal

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s