Nifty Futures analysis for 22-06-2018

NF DAILY220618
Nifty Future Daily Chart

The Nifty Future has the support at 10704 and 10691. A break of this support will confirm the completion of wave (B) of Wave 2 and beginning of wave (C) decline with a target of 10335 regions. Expect the pace of decline to accelerate on a break of 10691  which is the typical characteristic of a (C) wave of the Flat correction. This decline should mark the end of the wave 2 correction.

The day trader can sell it below 10715 with a stop loss of 10766 for the target of 10626.

The positional traders can add more sell position below 10691 with a stop loss of 10806 for the target of 10335.

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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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