Nifty Futures analysis for 31-01-2018

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nifty future 60-min 300118
Nifty Future 60-min chart

Nifty future closed at 11072.1 just below its support at 11080 which will now act as the resistance.It has a cluster of supports at 11043,10999,10972 and 10933 and resistance at 11080,11154.It appears that 4th wave correction has begun and has a target of 10776.

The day traders can sell it below 11080 with a stop loss of 11101 for the target of 11043 and 10999.Buy it above 11101 with a stop loss of 11079 for the target of 11155.

The positional traders should wait for some time for the clarity to emerge for initiating a fresh position.

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

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