Nifty Futures analysis for 26-02-2018

nifty future daily chart 260218
Nifty Future Daily Chart

‘ F&O Activity points to Nifty Sliding to 10,000 in March’ the headlines on the Smart Investing page in THE ECONOMIC TIMES in its newspaper dated 23 February 2018.

Nifty future did exactly the opposite and climbed 122.75 points to close at 10504.55 suggesting that the first leg of 5-wave decline may have ended and is poised for the 3-wave up move which may retrace up to 10840 which nearly 61.8% of the fall from the top of 10185.6 to 10290.1. The headlines stated at the start provided the clues of the near-term bottom in place.

‘ Sensex Rises 323 Pts on Strong Asian Cues, But Players Expect Trend to Stay Weak’ states The Economic Times in its page Markets: Beating Volatility in its newspaper dated 24th Febuary2018.

The above headline shows that the players are still in disbelief and does not expect the market to rise in near term on the various concern.I expect exactly the opposite sentiments in headlines when this correction tops out and resume its downward leg again.


The day traders can buy near 10470 or above 10516 with a stop loss of 10448 for the target of 10579 and 10614.

The positional traders can buy it near 10470 with a stop loss of 10399 for the target of 10725.

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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