Nifty Futures analysis for 23-01-2018

nifty future 60min-220118
Nifty Future 60-min chart

 Nifty Future scales a fresh record high of 10982.4, very near to its target price of 11008.It has supports at 10956,10933 and 10890 and resistance at 11008 and 11111.

The day traders can buy it above 10956 with a stop loss of 10929 for the target of 11008, 11047 and 11111.

The positional traders, holding long position should move the stop loss to 10879 for the initial target of 11008 and 11111.

Bank Nifty Future

It has supports at 26967 and 26923 and resistance at 27040-27045 region.

The day traders can buy it above 27046 with a stop loss of 26919 for the target of 27184 and 27300.

The positional traders can follow the recommendation given yesterday.

For further trades or queries,
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Author: Vinay Agrawal

VINAY AGRAWAL is SEBI registered Research Analyst. (Reg no INH000004501) with an excellent grip on technicals analysis, fundamentals and equity derivatives. Vinay Agrawal is a Technical Analyst. He has a vast experience of 26 years in the financial markets. He is the director of Blue chips corporate services Pvt Ltd, which is engaged in stock broking. Disclaimer: Investment is subject to market risk. No representations shall be entered that the predictions made by us herein will be profitable or otherwise. Readers using this information are solely responsible for their actions. The information is based on our personal assessment/judgment and we shall not be liable for any losses and damage.

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