Nifty Futures analysis for 12-06-2018

Nifty Future 60-min Chart

The Nifty Future opened with a gap up and reached a high of 10835 before shredding some gains, to close at 10785.8. It has a crucial resistance at 10803 and once crossed can take it up to 10840 and 10860 levels. It has the supports at 10760,10740 and 10725. The Put Call ratio of 1.24 suggests the mildly bullish trend.

The Day traders can buy it above 10803 with a stop loss of 10785 for the target of 10840 and 10860 and sell it below 10785 with a stop loss of 10803 for the target of 10741 and 10725 and 10691.

The positional trader can buy it above 10803 with a stop loss of 10759  for the target of 10948. I am not recommending any sell-side trade as the risk-reward ratio does not favor it.

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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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