Nifty Support & Resistance and target for tomorrow 5th Dec 2017:
Nifty will be facing resistance near 10,200 and 10,260 whereas support are placed at 10,095 and 10,000 levels. Tomorrow’s upside target for nifty can be 10,180 levels and on the downside 10,095 levels are possible
Nifty trading calls for 4th Dec 2017:
- 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 risky trade.
Past four trading Calls:
- 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)
- 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 Dec 4th 2017?
Nifty opened with a positive bias by opening 54 points in the green which resulted to be the high of the day, as nifty further moved only 4 points from the opening to hit the intraday high of 10,179.20.
After the hitting the highs market started to drift lower and lower to break 10,100 and went on to reach the lows of 10,095 within 20 minutes from the opening.
After clocking the lows nifty was able to recover 65 points from the lows and finally closed the day near 10,127.75 by gaining 5 points for the day.
Only 25 of 50 nifty stocks closed in the green. Infosys is the top gainer by gaining 2.77% and UPL is the top dragger by losing 2.58%.
Opening: 10,175.05; High: 10,179.20; Low: 10,095.70 Closing Price: 10,127.75(+5.95)
Nifty 28 Dec 2017 Expiry Futures closed at 10,159.25 (+5.00)
Nifty Forecast/Outlook for 4th Dec 2017:
On 4th Dec 2017 nifty again forms a bearish pattern for the third day in the row, as the opening price is more or less equal to the high point of the day and closing price is near the lows of the day.
Notable action of the day, Nifty today was able to take support at 10,095 levels, this level is critical and will be acting as intraday support for the market.10,095 is the swing low level marked on 15-Nov-2017 from where market recovered to hit 10,400 levels in 8 days.
As per our important observation, nifty on weekly charts have broken 20-Day EMA only once for this year and also supported the market on multiple times. Currently weekly 20-Day EMA was placed 10,045 levels so one can expect a pullback in the coming days.
In derivatives segment FII’s have only bought 149 crores in index futures. We are expecting nifty to go in a consolidation zone of 10,050- 10,300 till Gujarat election outcome if there are no negative or positive surprises from RBI as currently market is factoring no rate cut this time.
Risky traders can create long positions with a stop around 10,075 in the spot levels for a target of 10,300.
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: 10,050 will act as strong support.
Negatives: Weak Global Cues, nifty below 5-Day, 13-Day, 20-Day EMA and 50-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:
|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 28 Dec 2017 Expiry Strategies:
New Positional Calls for Nifty:
- Wait for trend confirmation .
Follow up of 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. Currently position is gaining by Rs.6,759.75.
Past 4 performance on Nifty positional trades.
- 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 5-Dec- 2017 9.30 PM to get the nifty view for 6- Dec- 2017.
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