Nifty Support & Resistance and target for tomorrow 27th Nov 2017:
Nifty will be facing resistance near 10,420 and 10,480 whereas support are placed at 10,350 and 10,310 levels. Tomorrow’s upside target for nifty can be 10,430 levels and on the downside 10,350 levels are possible.
Nifty trading calls for 27th Nov 2017:
- 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.
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).
- 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)
How was the nifty’s intraday movement today Nov 24th 2017?
Today nifty opened with a gap up of 18 points and stay in the green throughout the day.
Nifty gained strength to strength to move past 10,400 levels to hit the intraday high of 10,404 by 1.50 PM.Finally ended the day at 10,389 by gaining 40 points for the day.
Only 18 of 50 nifty stocks closed in the red. Aurobindo Pharm is the top gainer by gaining 2.98% and Hindalco is the top dragger by losing 1.41%.
Opening: 10,366.80; High: 10,404.50; Low: 10,362.25 Closing Price: 10,389.70(+40.95)
Nifty 30 Nov 2017 Expiry Futures closed at 10,409.35 (+42.70)
Nifty Forecast/Outlook for 27th Nov 2017:
On 24th Nov 2017 nifty forms a bullish pattern as the opening price is near the lows of the day and nifty closed near the highs of the day.
So after three days of indecisiveness chart pattern, current bullish pattern can be taken as bullish trend confirmation. We are expecting nifty to retest 10,500 in the days to come.
Notable action of the day, Nifty was able to close above the resistance of 10,380 shows the underlying bullish bias in the nifty.
In the derivative segment FII’s have bought 348 crores in index futures. Option data suggests 10,400 and 10,300 put seeing lot of put writing which will act as strong support.
Bank nifty is not support the market currently as it is losing strength. So one can short bank nifty and buy nifty as a pair trade.
What are the indicators which are positives and negatives for nifty?
Positives: nifty trading above 5-Day, 13-Day, 20-Day EMA and 50-Day EMA
Negatives: Bank nifty is not showing strength.
Nifty trading range for Nov 2017 Expiry: 10,100- 10,600 levels.
Nifty Short term trend View: As nifty is staying above 10,320 on weekly closing basis is positive sign and we are expecting nifty to be in sideways with positive bias. We are expecting nifty to retest previous highs of 10,500 in the days to come.
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:
- 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.
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).
- 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.
Visit our website on 27-Nov- 2017 9.30 PM to get the nifty view for 28- Nov- 2017.
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