Nifty Futures analysis for 04-12-2017

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nifty future weekly -011217
Nifty future-weekly

The weekly chart of Nifty future is showing a sign of further weakness. The divergences on RSI and sell signal on Stochastic oscillators indicates that this downtrend may continue for few more weeks and has supports at 9695 and 9380.

The day traders can sell it below 10177 with a stop loss of 10225 for the target of 10015 and 9867.

The positional traders can maintain short position below 10197 with a stop loss of 10287 for the target of 9695 and 9381.

For further trades or queries,
write back @ vinayagrawal1411@gmail.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.

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