Nifty Futures analysis for 19-01-2018

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

Nifty Future continues its bull run to a fresh high of 10873.45. It opened with a gap up and makes a new high and then corrects to fill the gap to its support at 10774 to close at 10810.8. The stochastic oscillator and the RSI  on the 60-min indicate further correction which may take it to the support level of 10769 and 10749.

The day trader can buy it above 10825 with a stop loss of 10797 for the target of 10881 and 10911 and sell it below 10797 with a stop loss of 10825 for the target of 10769 and 10749.

The positional traders should continue to hold a long position with stop loss of close below 10690 for the target of 11008.

For further trades or queries,
write back @ vinayagrawal1411@gmail.com

 

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