Nifty Futures analysis for 30-11-2017

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nifty future daily-301117
Nifty Future Daily Chart

Nifty Future breaks its crucial support at 10350 for the week, in the final hour of trade to close marginally higher at 10360.7.The oscillators and indicators on the daily chart point towards further weakness and have support at 10327, 10265 (gap) and the critical support at 10213. A break below 10213 will carry it to 10008.

The positional traders should sell it below the yesterdays low of 10340 with a stop loss of 10390 for the initial target of 10265 and 10213.

The day traders can sell it below 10350 with a stop loss of 10376 for the target of 10301 and 10267 and buy it above 10380 with a stop loss of 10360 for the target of 10425.

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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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