Nifty Futures analysis for 15-12-2017

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nifty future60-min chart 141217
Nifty Future 60-min chart

Nifty Future has formed a formed a candlestick pattern on the daily chart which has a strong bullish implication.It now faces resistance at 10365-10375 region.The break of this resistance zone may take it to 10712.

The Day traders should wait for Nifty future to cross the resistance level of 10375 before initiating long position as it is expected to open near resistance level.BUY it above 10376 with the stop loss of 10335 for the target of 10427 and sell it below 10313 with a stop loss of 10345 for the target of 10265.

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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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