Nifty Futures analysis for 24-10-2017

nifty future 60 min-241017
Nifty future 60-min chart

Nifty future managed to fill the gap it had on a 60-min chart at 10224 yesterday. The move still appears corrective. The close above 10252 will open the door for a new high.

The day traders can buy it above 10190 with a stop loss of 10155 for the target of 10248 & 10296. Once it crosses 10227 move the stop loss to 10169 for the same target. Sell it below 10155 with a stop loss of 10190 for the target of 10086.

The positional traders can buy it above 10227 with a stop loss of 10155 for the target of 10296,10334 and 10377. Sell it below 10155 with a stop loss of 10190 for the target of 10086, 10043 and 9970.

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.

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