Nifty Futures analysis for 02-02-2018

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NIFTY 60-MIN 010218
Nifty Future 60-min Chart

The nifty future decline from the top at 11185.7 to the low at 10880.7 made yesterday appears to be a 3-wave decline in 60-min chart where wave C=1.382*wave A.

The day traders can buy it above 11043 with a stop loss of 10994 for the target of 11140 and sell it below 10990 with a stop loss of 11030 for the target of 10909 and 10782.

The positional traders should wait for some time for confirmation of trend to initiate a fresh position.

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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.

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