Nifty Futures analysis for 29-07-2019


Nifty Future posted its worst loss since October 2018, in its July 2019 series of about five percentage point. Now it has suffered losses for the two consecutive series and has lost 596 points approximately from its close of June series. The India VIX, that tracks the fear perception also fell 13.66% to 12.64 at the end of July expiry series indicating a short term bottom is near or already made for now.

The Chart of Nifty Future indicates a short rally lasting for a few days and will face resistance at 11460. It has the critical support at 11138. The break of this critical support may open up a possibility of a very bearish interpretation and will open up the target up to 10100 levels.

The Positional traders should wait for the pullback rally to initiate a short position. The crucial and critical resistances are at 11631 and 11734 respectively for the remainder of the year 2019. A Long position should not be initiated until 11734 regions are crossed. This also means that 11734 will act as a stop loss for all short position. Sell on rally should be the strategy till then.

The Short term or day traders can go long above 11317 with the stop loss of 10278 for the target of 11402.

They call sell below 11278 with a stop loss of 11317 for the downside target of 11179-11181.

With India VIX currently at 11.9225, indicating very low volatility indicating lower pricing of options, buying of options can also be considered to ride in the direction of the trend.

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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.




Published by 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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