Nifty Futures analysis for 06-12-2017

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nifty future 60-min -051217
Nifty Future 60-min Chart

Nifty future took the support of the lower boundary of the Keltner channel and is trading above it.In the 60-min chart, the RSI is showing a positive divergence and the Stochastic Oscillator is rising indicating that this corrective up move can last longer and will face resistance at 10179 and 10197.

The day traders can buy it above 10147 with a stop loss of 10119 for the target of 10197 and sell it below 10125 with a stop loss of 10145 for the target of 10044 and 10115.

The positional traders, maintaining short position should keep the stop loss of 10221 for the target of 9695.

Please do not trade for first 10 minutes of the day.

For further trades or queries,
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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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