Nifty Futures analysis for 30-10-2017

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nifty 60-min 271017
Nifty Future 60-min chart

Nifty future is still in the uptrend and is refusing to break down in spite of the fact that most of the indicators and oscillators indicate the weakness in the rally.I have not given a short recommendation yet and will wait for the close below 10253 for initiating a positional short position.A close above 10377 will mean that the rally will continue up to 10681.

The day traders can buy above 10390 with a stop loss of 10356 for a target of 10434 and 10461 and sell it below 10345 with a stop loss of 10371 for a target of 10302 and 10275.

The positional long can be initiated if it closes above 10390 with the stop loss of 10344 for the target of 10681.

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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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