Nifty Futures analysis for 02-05-2018

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Nifty Future Daily Chart

Nifty future continues to accelerate higher and meets resistance at 10784.It now has the resistance at 10842.5 and supports at 10757.75 and 10697. The Keltner Channel, on the daily chart, failed to act as a resistance and its slope is rising higher indicating that this uptrend may continue.

The day traders can buy it above 10788 with a stop loss of 10754 for the target of 10842.

The positional traders can buy it above 10773 with a stop loss of 10724 for the target of 10842 and 10890.

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

Email comments or questions to vinayagrawal1411@gmail.com

Disclaimer:
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 are 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/judgement and we shall not be liable for any losses and damage.

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