Nifty Today August 31st 2017: Today was an overall a positive session for the markets on the expiry day. As nifty opened with gap up of 21 points and moved lower to hit the intraday low of 9,856.95 after breaking 5-Day and 13-Day EMA placed at 9,870 levels.
After hitting the lows index took support at 9,850 levels and move higher to cross 9,900 levels to clock the intraday high of 9,925.10.Finally ending the day near the highs of the day by gaining 33 points at 9,917.90.
22 of 51 nifty stocks closed in the red. Wipro is the top gainer for the day by gaining 2.71 % on back of buy back approval and Bharti Infratel is the top dragger for the day by losing 2.48%.
31th August 2017 Nifty Intraday Movement:
Opening: 9,905.70; High: 9,925.10; Low: 9,856.95
Closing Price: 9,917.90(+33.50)
Nifty 28 SEP 2017 Expiry Futures: 9,937.20(+24.75)
Nifty Support & Resistance for tomorrow 1st September 2017:
Nifty will face resistance near 9,920 and 9,940 levels whereas supports are placed at 9,870 and 9,860 levels which the 13-Day and 5-Day EMA.
Nifty Forecast/Outlook for 1st Sep 2017:
Today’s movement in the nifty shows an Hanging man pattern as the opening price and closing price are that the upper half of the day and the lows of the day is well below the opening and closing price which suggesting lose in the upward movement.
Notable action of the day is nifty found difficult to cross 9,925-9,930 levels and September future premium dropped by 9 points today and there was fall in the rollover this month which signals the upside will be capped.
Nifty need to go past 9,950 levels to trigger a new up move and any closing below 9,870 levels tomorrow can trigger downside targets of 9,780 and 9,700 levels.
What are the negatives for nifty?
- Nifty will face tough resistance around 9,930 levels.
What are the positives for nifty?
- Long term UP trend and Nifty above the key moving averages 5-Day, 13-Day and 20-Day.
Nifty Target for tomorrow: On the upside nifty can hit 9,950 levels and on the downside 9,850 levels are possible.
Nifty View for Friday: Volatile
Nifty Long Term trend: UP
Nifty trading range for 28th SEP 2017 Expiry: Nifty can move between 9600 – 10,100 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 28 Sep 2017 Expiry Strategies:
- Position Created on 30-Aug-2017:: Buy 10,100 PUT @230 for a target of Rs.350 and keep a stop around Rs.160.Current Status : Loss of 28.45 Points (i.e Losing by Rs 2133.75).Hold on to the positions
- Safe traders can wait in sidelines for trend confirmation.
Visit our website on 1st Sep 2017 8.30 PM to get the nifty view for 2nd Sep 2017.
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