The Nifty Future is showing the sign of weakness and is moving in a narrow sideways direction and does not give any trade.The RSI, Stochastic, MACD and other indicators and oscillators indicate that the rally is poised for a correction but will wait for the confirming price action like the break of trendline and filling of gaps on the daily chart to take a short position.
The day traders can go long on it above 10405 with a stop loss of 10366 for a target of 10449 and 10464 and sell it below 10365 with a stop loss of 10384 for a target of 10323 & 10288.
The positional traders can maintain a long position above 10404 with a stop loss of 10339 for a target of 10681.
For further trades or queries,
write back @ email@example.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.