Nifty Today August 11th 2017: Today was a volatile session which opened and ended in the red, as nifty opened the day in a negative note by losing 108 points from previous day’s closing on back of geo-political tensions between US and North Korea.
After weak opening nifty slowly recovered to hit the intraday high of 9,771.65 by 12.10 PM and again nifty lost the recovered gains to hit the intraday low of 9,685.55 by 3.00PM.
After hitting the lows nifty in the last 30 minutes recovered 25 points to close the day by losing 109.45 points at 9,710.80.
Today’s nifty opening breached the 50-Day EMA placed at 9,780 which acted as resistance for the day also.
Aurobindo pharma is the top gainer by gaining 2.88 % and Hindalco is the top loser by 7.14 %.
11th August 2017 Nifty Intraday Movement:
Opening: 9,712.15; High: 9,771.65; Low: 9,685.55
Closing Price: 9,710.80( -109.45)
Nifty 31 AUG 2017 Expiry Futures: 9,741.05( -113.70)
Resistance: 9900, 9930
Support: 9780, 9700
Nifty Forecast/Outlook for 14th August 2017:
Today’s movement in the nifty shows a long-legged doji pattern, bearish candle in the charts, as the closing price and opening price is more or less equal even though there are huge movement in the trading day which indicates indecisiveness in the market.
Yesterday we were saying about the next key support 9,780 which is the 50-Day EMA and any break can take the market to 9,650 levels. So we expected market to hit 9,650 in the coming days and sell on rise strategy can be adopted until nifty closes above 9,800.
Nifty formed lower highs and lower lows for the four straight session indicates bearish trend in the market.
What are the negatives for nifty?
- Sellers signal in MACD and RSI
- Nifty breaks 50-day moving averages also.
What are the positives for nifty?
- Long term UP trend
- Strong support near 9,700.
- Nifty in over sold region
Nifty Long Term trend: UP
Nifty View for Monday: Sideways
Nifty trading target range for 14th August 2017: Nifty can move between 9,650 – 9,780 levels.
Nifty Long term up trend reversal point: Closing below 9700 Levels.
Nifty Strategies Performance:
|No of trades||Only 3|
|Total Points Gained||325 Points Gained|
|Total Profit||Rs 24,375|
Open Nifty Aug 2017 Expiry Strategies:
- Position Created on 10-Aug-2017: Buy Nifty 31 Aug 2017 10,200 PUT @ Rs 340.Hold for target of 460 with stop around 270 Current Status : Target Achieved 120 Points Gained (ie.Total Profit of Rs.9000)
- Position Created on 09-Aug-2017: Pair trade was executed by buying one Lot of nifty futures at 9,940 and selling one lot of bank nifty futures at 24,450 and continue to hold for a profit of 10,000 and square off the position is loss goes above Rs.5000. Current Status : Loss of Rs.345
Visit our website on 14th Aug 2017 8.30 PM to get the nifty view for 16th Aug 2017.
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