Nifty Futures analysis for 19-04-2018

nf daily190418
Nifty Future Daily Chart

Nifty Future breaks its nine days, longest winning spree in 3 years and formed a Double Close Key  Reversal Outside Bar pattern.The importance of this pattern sometimes marks the reversal in price. The Stochastic Oscillator is in overbought zone and turning down.The RSI indicator is near 60-62 level indicating that the rise is corrective and may top out soon.

The day traders can sell it below 10538 with a stop loss of 10559 for the target of 10482-10473 region and buy it above 10559 with a stop loss of 10538 for the target of 10605 and 10620.

The positional long position got squared up yesterday. The positional traders can now sell it below 10538 with a stop loss of 10597 for the initial target of 10435.

Please do not trade in first 10 minutes from the open.

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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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