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The Nifty Future has an unfilled opening gap and has reached the lower boundary of Wave-B channel where it found some support. The break of the lower boundary will accelerate the decline further with the next support near 10552.

The Day traders can sell it below 10704 with a stop loss of 10736 for the target of 10640 and 10590.

The positional traders holding short position can move the stop loss to 10801 for the target 10335.

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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.

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.

Email comments or questions to vinayagrawal1411@gmail.com

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.

 

Nifty Future declined and took support at 10640 on Friday. It retraced just above 61.8%  of its decline from 11185.6 to 9960 and reversed to close at 10658.7, below its important support of 10697. It has the supports at 10640,10605 and 10589 and resistance at 10697,10714 and 10731. With the cluster of supports and resistance very near to its close on Friday, it does not provide a good trading opportunity until broken on either side. The Stochastic Oscillator and the RSI on the daily chart indicate the possibility of a further decline.

Email comments or questions to vinayagrawal1411@gmail.com

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.

Nifty Future commenced its corrective pullback rally from the low of 10300 which it made yesterday has a potential target between 10620  to 10818 level which is 38.2% and 61.8% retracement of the fall from 11139.4 to 10300  and the supports at 10494, 10456.It has a crucial resistance at 10605.

The day traders can buy it above 10495 with a stop loss of 10449 for the target of 10605, 10698, 10785 and sell it below 10449 with a stop loss of 10501 for the target of 10181.

Sell position can also be initiated if it stays below 10605 for 15 to 20 minutes after crossing this level in corrective up move with the day’s high as a stop loss for the target of 10495.

The positional traders should wait for this correction to complete to initiate a fresh position.

For further trades or queries,
write back @ vinayagrawal1411@gmail.com.

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.

Nifty future closed at 11072.1 just below its support at 11080 which will now act as the resistance.It has a cluster of supports at 11043,10999,10972 and 10933 and resistance at 11080,11154.It appears that 4^th wave correction has begun and has a target of 10776.

The day traders can sell it below 11080 with a stop loss of 11101 for the target of 11043 and 10999.Buy it above 11101 with a stop loss of 11079 for the target of 11155.

The positional traders should wait for some time for the clarity to emerge for initiating a fresh position.

For further trades or queries,
write back @ vinayagrawal1411@gmail.com

Nifty Future continues to move higher to make a fresh high of 10918.15  before closing at 10901.05.It has crucial support at 10885, 10864.5 and 10791 and an upside target of 11008.A close above 11008 will open up higher targets for 11112 and 11309.

The day traders can buy it above 10885 with a stop loss of 10852 for the target of 10972 and 11008.I will avoid short trades as Risk to Reward ratio is not favorable for it at this juncture.

The positional traders should move the stop loss to10789 for the target of 11008 for the long position they are holding.

Bank Nifty Future

Bank Nifty has supports at 26827,26715 and 26688 and resistance at 27040. A close above 27040 will open up the significantly higher target of 28400 with some resistances at 27730 and 28150.

The day traders can buy it above 26827 with a stop loss of 26685 for the target of 27040 and 27315.

The positional traders can initiate long position above 26950 with the initial stop loss of 26685 and add more if it closes above 27040 for the target of 27730 and 28150.

For further trades or queries,
write back @ vinayagrawal1411@gmail.com