Nifty Futures analysis for 09-11-2017

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nifty 60-min 081117
Nifty Future -60 min chart

                Nifty future after hitting the low of 10333.3 managed to close at 10354.9. The oscillators on the 60-min chart are in an oversold region and are turning up indicating an upside move. A move above 10378 will take it up to 10421 and 10441 regions.

The day traders can buy it above 10378 with a stop loss of 10345 for the target of 10420 and 10440 and sell it below 10333 with a stop loss of 10367 for the target of 10261.

PSU banks and IT sector looks bullish and may provide best trading opportunity in near term.Short trades should be avoided.

The Monthly chart of Polaris Software presents a highly bullish opportunity. This stock can become a multi-bagger in long term. Buying can be considered with a long-term view.

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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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