Nifty Futures analysis for 25-04-2018

nf daily 250418
Nifty Future Daily Chart

Nifty Future closed at 10617.9, has a perfect set-up to continue its upward rally with a multilayer support in its vicinity at 10612,10605.25,10601,10579 and 10551. This is the ideal platform for the bulls to push it higher to its resistance level of 10697 and 10717 level which is 61.8% retracement of its fall from 11185.6 to 9960. The inability to rise and take supports at its level provided will mean that these level will act as the resistance once it gets broken.The close below 10605.25 will indicate that this upside rally is complete and the correction will set in which will last for few days.

The day traders can buy it above 10617 with a stop loss of 10599 for the target of 10654 and 10697.They can sell it below 10550 with a stop loss of 10580 for the target of 10514 and 10477.

The positional trader should wait for a day for the trend to emerge for taking a new position.

Please do not trade for first 15 minutes of the session.

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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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