Nifty Support & Resistance and target for tomorrow 4th Jan 2018:
Nifty will be facing resistance near 10,490 and 10,530 whereas supports are placed at 10,400 and 10,430 levels. Tomorrow’s upside target for nifty can be 10,480 levels and on the downside 10,400 levels are possible.
Nifty trading calls for 4 Jan 2018:
Follow Up Calls:
- Recommended for 02-Jan-2018, Sell Nifty Jan Futures near 10,540 levels for a downside target of 10,440 with a stop around 10,610 levels. Hold on the positions for 2 -3 days.Currently gaining by 70 points (i.e Rs. 5,250)
Past trading Calls:
- 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)
- 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.
- Recommended for 05-Dec-2017, Buy Nifty Dec Futures near 10,160 levels for an upside target of 10,280 with a stop around 10,075 levels.This is a risky trade.Stop loss Triggered. Loss of Rs 6,375
- Recommended for 08-Dec-2017, Buy Nifty Dec Futures near 10,200 levels for an upside target of 10,340 with a stop around 10,080 levels.Target Achieved profit of 140 points (ie. Rs 10,500)
- Recommended for 19-Dec-2017 Sell Nifty Dec Futures near 10,440 levels for a downside target of 10,330 with a stop around 10,530 levels.Hold for 2-3 days more as Stop loss triggered loss of 90 points .
How was the nifty’s intraday movement today Jan 3rd 2018?
Index opened the day with a positive bias by gaining 40 points and further moved up by 20 points to reach the intraday high of 10,503 by 10.05 AM.
After hitting the highs slowly nifty drifted lower to break the 5-Day EMA placed at 10,456 and went on to test the 13-Day EMA placed at 10,430 by clocking the intraday lows of 10,429.Finally ended the day flat at 10,443.
Only 23 of 50 nifty stocks closed in the red. Adani ports is the top gainer by gaining 2.58 % and Wipro is the top dragger by losing 2.75%.
Opening: 10,482.65; High: 10,503.60; Low: 10,429.55 Closing Price: 10,443.20(+1.00)
Nifty 25 Jan 2018 Expiry Futures closed at 10,469.40 (-2.80)
Nifty Forecast/Outlook for 4th Jan 2018:
Index forms a small bearish pattern as the opening price is near the highs of the day and closing price is near the lows of the day.
Notable action of the day, Nifty again was able to close above the 13-Day EMA signals after taking support near 10,400 as a strong support.
As we said nifty can see bounce but bounce can be used to exit long positions and risky traders can also create short positions.
In derivatives nifty futures premium decreased from 30 points 26 points indicates indecisiveness among the traders and PCR ratio is currently at 1.07 which is neutral signal.
Traders can wait for nifty levels above 10,490 or below 10,400 to create trading position.
Currently bank nifty is weak compared to nifty and 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 all above the key moving averages 5-Day, 13-Day, 20-Day EMA and 50-Day EMA
Negative: Derivatives data suggesting not much upside.
Nifty Jan 2018 Expiry trading range: Nifty expected to trade between 10,300 -10,500 levels.
Positional Nifty Call for 25 Jan 2018 Expiry Strategies:
Follow up of open calls:
- 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.Currently position is gaining by 31 points.
- 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. Currently position is gaining by Rs.1468. Hold it for 10 -15 more days.
Past 3 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 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.As RBI credit policy meeting outcome is awaiting this week so there can be wild swing and mostly there can be positive surprise which can take market in the upside so profit have been booked at Rs.5000.
- 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.
Visit our website on 3-Jan-2018 9.30 PM to get the nifty view for 4-Jan-2018.
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