Nifty Futures analysis for 01-02-2018

nifty future 60-min 310118
Nifty Future 60-min Chart

Nifty future closed at 11055.4, near its support at 11043. It has supports at 10999,10972,10956 and 10933 and resistance at 11080 and 11041.

The day trader should buy it above 11098 with a stop loss of 11074 for the target of 11138, 11185 and 11253.Sell-side trades should be avoided till it breaks 10933 as there are many supports in its vicinity of 100 points yesterday’s close.

The positional trader should avoid creating a new position for today.

Reliance Industries Ltd Feb future

The day traders can buy it above 968 with a stop loss of 945 for the target of 1004.

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Vinay Agrawal will not accept any liability for loss or damage as a result of reliance on the information contained within this tool including data, quotes, charts and buy/sell recommendation. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Future and options trading on margin involves high risk and is not suitable for all investors. Before deciding to trade in Equities, Commodities, Currency, Derivatives or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.

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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