Nifty Futures analysis for 04-05-2018

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Nifty Future Daily Chart

Nifty Future has multiple supports between 10695 and 10705 and has resistance at 10731 and 10785.The support of 10695, if broken, can take it to 10640 and 10605.5.If 10731 is crossed then it may go up to 10785 and 10840 levels.The status of the Stochastic oscillator and the RSI indicates that it is poised for the decline and may correct the advance from the low of 9960 to the high of 10787.95 before resuming its uptrend.

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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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