Nifty Futures analysis for 15-01-2018

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nifty future daily 120118
Nifty future Daily Chart

Nifty future made a high of 10695 against the projected target of 10710. The intraday price action shows the bullishness of the rally and the potential of it crossing the target of 10710 to the next resistance level of 10727 and 10781.The Candlestick pattern on the daily chart is very bullish.

The day traders can buy it above 10677 with a stop loss of 10645 for the target of 10727 and 10781.

The positional traders should continue to hold a long position with a stop loss of below 10645 on a closing basis, for the target of 10781.

I will not recommend any selling till it closes below 10645 for this week.

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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