Nifty Futures analysis for 08-12-2017

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nifty future 60-min -071217
Nifty Future 60min chart

 The Nifty future bounced to gain 150.3 points to close at 10202.95, just above its resistance at 10197.The 60-min chart shows the stochastics oscillator in the overbought region and RSI around 58 implying that this move may correct or reverse and has support at 10184 and 10148.

The day traders can buy it above 10185 with a stop loss of 10145 for the target of 10260 and sell it below 10145 with a stop loss of 10185 for the target of 9989 and 9968.

Do not trade for first 10 minutes of the day.

For further trades or queries,
write back @

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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