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Nifty Target for Tomorrow 1st Dec 2017

Nifty Support & Resistance and target for tomorrow 1st Dec 2017:

Nifty will be facing resistance near 10,250 and 10,300 whereas support are placed at 10,200 and 10,150 levels. Tomorrow’s upside target for nifty can be 10,280 levels and on the downside 10,200 levels are possible.

Nifty trading calls for 1st Dec 2017:

  1. Risk reward is not in favor of going short in the market, so it’s better to wait in sidelines for a day or two.

Previous trading Calls:

  1. 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.
  2. 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.
  3. 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).
  4. 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).
  5. 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.Target achieved on 17-Nov-2017 in 2 days by  gaining 150 points(i.e  profit of Rs. 11,250)
  6. Recommended for 26-Nov-2017, Buy Nifty Nov Futures if nifty futures trades above 10,410 levels for an upside target of 10,510 with a stop around 10,350 levels.Stop Loss Triggered loss of Rs.4500.

How was the nifty’s intraday movement today Nov 30th 2017?

Due to weak handover from US markets as Nasdaq fell 1.29 % yesterday, nifty opened with a negative bias by gaping down 31 points from yesterday’s closing. The weakness was maintained throughout the day.

Today nifty broken key 13-Day and 20-Day moving averages and went on to test 10,200 levels by reaching the intraday lows of 10,211.25 after the news of fiscal deficit news.

Nifty was only able to recover only 15 points from the lows to end the day at 10,226 by losing 134 points for the day.

Only 6 of 50 nifty stocks closed in the green. Gail is the top gainer by gaining 1.35% and Hindalco is the top dragger by losing 2.61%.

Opening: 10,322.70; High: 10,332.70; Low: 10,211.25 Closing Price: 10,226.55( -134.75)

Nifty 28 Dec 2017 Expiry Futures closed at 10,278.65 ( -120.80)

Nifty Forecast/Outlook for 1st Dec 2017:

On 30th Nov 2017 nifty forms a bearish belt pattern as the opening price is the high point of the day and closing price is near the lows of the day.

As said yesterday bears are trying to take control of the market, but it will get confirmed only when nifty closes below 10,300. As nifty have closed below 10,300 bears will be in full control which can take the market to 10,150 levels in the days to come.

Notable action of the day, Nifty have broken the key 13 and 20 day EMA and was able to close above the 50-Day EMA which is placed at 10,200 levels.

In derivatives segment FII’s sold 625 crores in index futures. we were expecting short covering rally to take market 10,500 levels but today’s fall below 10,300 have turned the sentiment negative.

Nifty is in long term up trend, generally during long term uptrend 50-Day Moving average will support the market. Today’s fall is due to many reasons like F&O Expiry, Current account deficit numbers and weak global cues.

Currently risk reward is not in favor of going short in the market, so it’s better to wait in sidelines to initiate the trades.

Our view is bank nifty is weak compared to nifty, so we have initiated long nifty and short bank nifty few days ago and continue to hold the positions which appears to be safe trade.

What are the indicators which are positives and negatives for nifty?

Positive: nifty trading above 50-day EMA which will be acting as strong support. 13-Day, 20-Day EMA and 50-Day EMA

Negatives: Weak Global Cues, nifty below 5-Day, 13-Day and 20-Day EMA and also bearish sentiment in the charts.

Nifty Dec 2017 Expiry trading range: Nifty expected to trade between 10,000 -10,500 levels.

Nifty Strategies Performance:

Month Jun 2017
No of trades Only 3
Total Points Gained  325 Points Gained
Total Profit Rs 24,375

Click here to view the Gold rates today

Attention Viewers:

Kindly post your feedback’s and suggestions so that we can come up with fresh ideas to serve you.

Positional Nifty Call for 28 Dec 2017 Expiry Strategies:

New Positional Calls for Nifty:

  1. Risk reward is not in favor of going short in the market, so it’s better to wait in sidelines for a day or two.

Follow up of Positional Calls for Nifty:

  1. Position Recommended on 27-Nov-2017: Initiate a pair trade by Buying Nifty 28 Dec 2017 Futures around 10,450-10,460 and also Sell Bank nifty Dec futures around 25,900 -25,920 levels. Hold the position for target of RS.15, 000 with stop around Rs.10,000.Holding period 10-15 Days. Currently position is gaining by Rs.5,198.

Previous Calls on Nifty

  1. 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)
  2. 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)
  3. 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).
  4. 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.

Click here to view the bank nifty target for tomorrow

Visit our website on 1-Dec- 2017 9.30 PM to get the nifty view for 4- Dec- 2017.

Disclaimer – No Author at myfinanicalZone.com is registered with SEBI or any regulating authority as a Research Analyst or an Investment Adviser. Please Consult Your Investment Adviser before making any Investment/Trading decisions based on content posted in this Website. Here we write only what we do and all information posted in this website is for Educational purpose only

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