Nifty Support & Resistance and target for tomorrow 13th October 2017:
Nifty will face resistance near 10,150 and 10,178 levels whereas supports are placed at 10,050 and 9,980 levels. Tomorrow’s upside target for nifty will be 10,150 levels and on the downside 10,050 levels are possible.
Nifty trading calls for 13th October 2017:
Recommended for 13th October 2017: Nifty is looking strong compared to bank nifty. So it’s better initiate a pair trade in index by buying nifty futures and selling bank nifty futures around 9.20 AM on October 13th. For a target of Rs. 6,000 and stop loss to Rs 4,000.
Previous trading Calls:
- Recommended on Oct 5th 2017, Nifty is looking strong compared to bank nifty so pair trade in Nifty and Bank Nifty will be safe trade, so buy Nifty futures 9,920 and sell Bank nifty futures at 24,140 for a target of 6000 and stop loss of Rs.4000. Target achieved on 11-Oct-17. Profit of Rs 6000.
- Recommended on Oct 6th 2017: Nifty took 9 days to recover the loss make in 4 sessions from 22-sep-2017 to 27-sep-2017. And today we can see a bearish signal in charts after two days of uncertain move. So one can sell nifty futures if nifty spot trades below 9,950 for a target of 9,800 with stop loss of 10,030. All the levels are spot levels. Call not initiated.
How was the nifty’s intraday movement today October 12th 2017?
Nifty opened the day on a positive note by showing a gap up of 26 points and moved lower to hit the day’s low of 9,977 by 9.25 AM.
After reaching the lows nifty gain momentum and move higher to cross 10,100 levels and to record the day’s high of 10,104.45 and finally closed the day at just 4 points below 10,100 level.
Only 10 of 50 nifty stocks closed in the red. Hindalco is the top gainer by gaining 5.99% and Bharti Airtel is the top dragger by losing 0.82%.
Opening: 10,011.20; High: 10,104.45; Low: 9,977.10 Closing Price: 10,096.40(+111.60)
Nifty 26 OCT 2017 Expiry Futures closed at 10,111.40(+118.90)
Nifty Forecast/Outlook for 13th Oct 2017:
Today’s movement in the nifty from a strong bullish candle in the charts as nifty closed near the highs of the day and also recovered all the yesterday’s loss.
Notable action of the day, index was able to test 10,100 levels and close near 10,100 levels is positive sign and FII’s have just bought 262 crores in the futures.
As we said yesterday nifty needed close above 10,050 or below 9,950 for next trending move. Today nifty was able to close well above the 10,050 but bank nifty is not so bullish as nifty, so we are little bit cautious of the rally.
Our Positional view of 9,400 levels below hitting the new highs is still in place and this market is sell on raise for positional traders.
What are the indicators which are positives and negatives for nifty?
Negatives: Nifty nearing life highs along with FII’s short positions which got rolled over from Sep to Oct.
Positives: Markets above 5-Day, 13-day, 20-Day and 100- Day moving averages and also bullish signals in the charts.
Nifty trading range for 26th OCT 2017 Expiry: Nifty can move between 9400 – 10,100 levels.
Nifty short term trend view: As long as nifty is staying above 9,700 on closing basis is positive for nifty. Currently 9,685 will be acting as an intraday support since it’s the 11-Aug-2017 swing lows from where nifty bounce back to 10,100 levels.
Nifty Strategies Performance:
|No of trades||Only 3|
|Total Points Gained||325 Points Gained|
|Total Profit||Rs 24,375|
Positional Nifty Call for 26 OCT 2017 Expiry Strategies:
- Wait for confirmation above 10,050 or below 9,930 levels to initiate a positional trade.
Previous Calls on Nifty
- Position Recommended on 21-Sep-2017: Sell Nifty 26-OCT-2017 futures around 10,100 with a target of 9,800 and a stop around 10,250.Target achieved in 5 days with a profit of 300 Points (i.e. Rs 22,500.00).
- Position created on 28-Sep-2017: Sell Nifty 26-OCT-2017 futures around 9,800 with a target of 9,550 and a closing stop around 9,950. Holding period: 15- 20 Days. Stop loss triggered ( i.e Rs. Loss of Rs.12500).
Visit our website on 13th OCT 2017 9.30 PM to get the nifty view for 16th Oct 2017.
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