Nifty Futures analysis for 08-02-2018

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Nifty Future 60-min Chart

Nifty Future retraced 38.2% of its wave 3 declines at 10624.9 and reversed to close at 10465.55.It now has resistance at 10488 and 10534.

The day traders can sell it below 10488 with a stop loss of 10536 for the target of 10364 and 10215 and buy it above 10535 with a stop loss of 10485 for the target of 10605 and 10695.

The positional traders can also sell it below 10485 with a stop loss of 10535 for the target of 10175 by next week.

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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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