Nifty upside and downside target for tomorrow 2nd Feb 2018:
Nifty upside target can be around 11,050 and downside target of 10,950 are possible, as the Nifty will be facing resistance near 11,090 and 11,150 whereas supports are placed at 11,000 and 10,950 levels. Nifty will be trading with a negative bias.
Nifty trading calls for 2-Feb-2018:
- Recommended for 2-Feb-2018,
- Sell Nifty Feb Futures near 11,000 levels for a downside target of 10,800 with a stop around 11,140 levels. Hold on the positions for 7 -10 days.
How was the nifty’s intraday movement today Feb 1st 2018?
Index opened the day 17 points in the positive and was volatile throughout the day as we can see 240 points movement between the highs and lows of the day.
Index break 13-Day EMA placed at 10,947 and even tested the 20-Day EMA placed at 10,860 by clocking intraday low of 10,878 and recovered to close the day at 11,016.90 by losing 10 points for the day.
Only 25 of 50 nifty stocks closed in the green. M&M is the top gainer by gaining 4.68 % and Sun Pharma is the top dragger by losing 4.41%.
Opening: 11,044.55; High: 11,117.35; Low: 10,878.80 Closing Price: 11,016.90(-10.80)
Nifty 22 Feb 2018 Expiry Futures closed at 11,031.30 (-24.10)
Nifty Forecast/Outlook for 2nd Feb 2018:
Index forms high wave pattern in the technical charts which means the opening and closing price are further way from the high and low point of the day.
Nifty tested the 20-Day EMA during today intraday move and settled above 11,000 levels indicates bulls and bears were fighting each other to take upper hand but ended neutrally.
Any closing below 10,950 can drag nifty to 10,860, 10750 levels in the day to come.
In the derivatives segment FII’s sold 168 crores in the index futures and still Put options premium IV’s are more than Call options IV’s suggesting long positions in the call options are getting squared more than put options.
One can go short in the market for initial target of 10,900 and 10,800 with a stop around 11,130.as the current trading range is 10,800 -11,200 .
What are the indicators which are positives and negatives for nifty?
Positives: Nifty trading above the key moving averages 13-Day, 20-Day EMA and 50-Day EMA
Negative: Trading below 5-Day EMA and reversal pattern in the charts.
Nifty Jan 2018 Expiry trading range: Nifty expected to trade between 11,300 -10,900 levels.
Positional Nifty Call for 22 Feb 2018 Expiry Strategies:
- Position Recommended on 27-Jan-2018: Buy Nifty 22 Feb 2018 11,000 PUT and sell two lots of 10,800 Put and buy one lot of 10,600 on Monday(i.e 29-Jan-2018) . Hold the position for target of 10,000 as the current premium outflow is just 22 points. Current Status :position is gaining by Rs 1450.
Past performance on Nifty positional trades.
- 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.
- Position Recommended on 13-Dec-2017: Initiate a pair trade by Buying Nifty 28 Dec 2017 Futures and also Sell Bank nifty Dec futures by 9.20 AM on 13-Dec-2017,On 13 Dec 2017 Nifty was bought at 10,250 and bank nifty was sold at 25,160 levels. Hold the position for target of RS.15, 000 with stop around Rs.10, 000.Holding period 10-15 Days.Target Achieved on 18-Dec-17 in 6 days Rs. 15,000 profit.
- Position Recommended for 19-Dec-2017: Sell Nifty 25 Jan 2018 Futures 10,500 for a target of 10,300 with a stop around 10,620.Hold for 10-15 Days. Stop loss Triggered, Loss of 120 points.(i.e 9,000).
- Position Recommended on 28-Dec-2017: Initiate a pair trade by Buying Nifty 25 Jan 2018 Futures and also Sell Bank nifty Jan futures by 9.20 AM on 28-Dec-2017 and Hold the position for target of RS.15, 000 with stop around Rs.10,000. Nifty buying price @10,542 and bank nifty selling price @ 25,560. Booked Profit Rs.4500. as bank nifty is showing sign of strength.
Visit our website on 31-Jan-2018 9.30 PM to get the nifty view for 1-Feb-2018.
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