Nifty Futures analysis for 02-02-2018

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.

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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