Nifty Futures analysis for 05-01-2018

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nifty future60-min chart 040118.
Nifty Future 60-min chart

Nifty future continues to move within the range of 10429 to 10544 which is acting as the support and resistance respectively. The current price action in it shows that now the initial support on multiple time frame has shifted to 10496 which will act as crucial support.

The day traders can buy it above 10544 with a stop loss of 10496 for the target of 10606 and sell it below 10496 with a stop loss of 10519 for the target of 10449 and 10430.

The positional trader can buy it above 10568 with a stop loss of 10489 for the target of 10710.

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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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