Nifty Support & Resistance and target for tomorrow 16th Nov 2017:
Nifty will be facing resistance near 10,150 and 10,240 whereas support are placed at 10,080 and 10,000 levels. Tomorrow’s upside target for nifty can be 10,050 levels and on the downside 10,150 levels are possible.
Nifty trading calls for 16th Nov 2017:
- Recommended for 16-Nov-2017, Buy Nifty Nov Futures if nifty futures trades above 10,190 levels for an upside target of 10,340 with a stop around 10,100 levels.
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 23th October 2017: Nifty is looking strong compared to bank nifty. So it’s better to initiate a pair trade around 9.20 AM in index by buying nifty futures and selling bank nifty futures. For target of Rs. 6,000 and stop loss to Rs 4,000. Buy was executed around 10,210 in nifty and sell of bank nifty was around 24,130 levels. Stop hit loss of Rs.4000.
- Recommended for 27th Oct 2017: Buy Nifty Nov 2017 futures around 10,360-10,380 levels for a target of 10,520 with stop around 10,250 levels. Profit booked at 10,490 levels on 03-Nov-17 in 6 trading days. Total profit of 110 -130 points (i.e. Profit of Rs. 8,250 – 9,750).
- Recommended for 09-Nov-2017, Sell Nifty Nov Futures around 10,340-10,360 levels for a downside target of 10,200 with a stop around 10,430 levels. Hold on the positions with a revised stop around 10,260. Target achieved on 15-Nov-17 with a profit of 160 points (ie. Rs. 12000).
How was the nifty’s intraday movement today Nov 15th 2017?
Today also nifty opened 15 points in the red and moved up by 4 points after the opening to clock the intraday high of 10,175.45.
After the highs market drifted lower and lower to break important 50-Day EMA placed at 10,140 levels and after breaking the 50-Day EMA selling got intensified to break the 10,100 levels to reach the day’s low of 10,094.
Finally ended the day 18 points above 10,100 levels but losing 68 points for the day.
Only 14 of 50 nifty stocks closed in the green. Asian Paints is the top gainer by gaining 2.29% and Bharti Infratel is the top dragger for the second day in the row by losing 4.86%.
Opening: 10,171.95; High: 10,175.45; Low: 10,094.00 Closing Price: 10,118.05(-68.55)
Nifty 30 Nov 2017 Expiry Futures closed at 10,154.35 (-79.25)
Nifty Forecast/Outlook for 16th Nov 2017:
Today for the third day in the row nifty is forming bearish pattern as the opening price is near the highs and closing price was near the lows of the day.
Notable action of the day, Nifty is forming lower highs and lower lows for the 7th day in the row and also closed near the lows of the day after last hour of selling and also nifty closed below the 50-Day EMA which signals bearish sentiment in the market.
In the derivative segment market is not reflecting much bearishness as futures open interest is decreasing for the second day in the row as today open interest decreased by 2.45 % which indicates some shorts are getting covered and the nifty premium is still 36 points.
In our view was 50-Day EMA will be acting as a strong support but it got broken today, so it’s better to wait in the sidelines till market go past 10,140 levels to initiate trades.
We are in a view to create long positions if nifty trades above 10,140 levels on closing basis with a stop around 10,080 with a target of an initial target of 10,280( i.e. All the levels are spot levels).
Nifty on weekly charts is nearing the 13-Day EMA, From Jan 2017 nifty have only once gone below the 13-Day EMA which is on 27-Sep-2017. So we are expecting bounce back after 350 points correction from the recent highs.
What are the indicators which are positives and negatives for nifty?
Negatives: nifty trading below 5-Day, 13-Day, 20-Day EMA and 50-Day EMA
Positives: Nifty nearing 13-Day EMA in weekly charts.
Nifty trading range for Nov 2017 Expiry: 10,100- 10,600 levels.
Nifty Strategies Performance:
|No of trades||Only 3|
|Total Points Gained||325 Points Gained|
|Total Profit||Rs 24,375|
Kindly post your feedback’s and suggestions so that we can come up with fresh ideas to serve you.
Positional Nifty Call for 30 Nov 2017 Expiry Strategies:
New Positional Calls for Nifty:
Nifty is nearing the 50 day EMA which is just 80 points away so it’s better to wait in the sidelines since we are in a long term uptrend. We will analyze the trade setup near 10,150 levels.
Follow up of opening calls.
- Position Recommended on 25-OCT-2017: Initiate a pair trade by selling Nifty 30 Nov 2017 Futures around 10,325-10,350 and also buy Bank nifty Nov futures around 25,150 -25,200 levels. Hold the position for target of RS.20, 000 with stop around Rs. 10,000.Target achieved in 20 Days with a profit of Rs. 20,000.
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)
- Position Recommended on 23-OCT-2017: Sell Nifty 30 Nov 2017 Futures around 10,190-10,200 for a target of 10,000 with revised stop around 10,350. Stop loss triggered. (i.e Loss of Rs 11,250).
Visit our website on 16th Nov 2017 9.30 PM to get the nifty view for 17th Nov 2017.
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