Nifty Futures analysis for 31-07-2019

nf 60-min 300719
Nifty Future 60-Min Chart

Nifty Future accelerates lower with very strong momentum to break its support of 200 days SMA  at 11164 and its critical support at 11139. The VIX rose by 3.82% to 13.5625 but still at a low volatility level. The highest open interest is seen on August 29 11000 PUT indicating that 11000 levels may act as the temporary support, the eventual target of this fall is 10833 and 10767.

The Nifty Future is expected to open weak and the risk to reward ratio does not favor initiating a Sell-side intraday trade today. Wait for it to rebound near the levels of 11138 for initiating the short positional trade with a stop loss of 11222 for the target of 10833 and 10767.

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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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