Nifty Futures analysis for 25-10-2017

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nifty future 60 min-251017
Nifty Future 60-min chart

Nifty Future moved in a very narrow band with a gain of 30 points from the previous close yesterday.The India VIX  lost 5.96% to close at 11.59 indicating the market participants are very confident and optimistic about the bullishness in the market.The FII’S sold Rs.1306.76 of it signaling their bearish view in Nifty future.

Technically Nifty future has a minor resistance at 10296 and a strong resistance at 10335-10377 region which it could reach by the end of this settlement.

The day traders can buy it above 10220 with a stop loss of 10179 for a target of 10296 & 10334. Avoid trading if it opens far away from the stop loss.

I am aware of the fact that there will be a huge gap-up opening today.The Risk to Reward ratio doesn’t permit me to take any new positional position today. I suggest the closing of a long position in it around 10350-10375 region.

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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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