Nifty Support & Resistance and target for tomorrow 5th Jan 2018:
Nifty will be facing resistance near 10,530 and 10,600 whereas supports are placed at 10,490 and 10,430 levels. Tomorrow’s upside target for nifty can be 10,550 levels and on the downside 10,470 levels are possible.
Nifty trading calls for 5 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 14 points (i.e Rs. 1050)
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 4th 2018?
Index opened the day with a positive bias by gaining 25 points and moved down further by 28 points to reach the intraday lows of 10,441 by 9.20 AM.
After hitting the lows nifty started to gain momentum and moved steadily to break above 10,500 to reach the intraday high of 10,513. Finally end the day at 10,504 by gaining 61 points for the day.
Only 14 of 50 nifty stocks closed in the red. Tata Steel is the top gainer by gaining 3.44 % and Tata motors is the top dragger by losing 0.91%.
Opening: 10,469.40; High: 10,513.00; Low: 10,441.45 Closing Price: 10,504.80(+61.60)
Nifty 25 Jan 2018 Expiry Futures closed at 10,526.20 (+56.80)
Nifty Forecast/Outlook for 5th Jan 2018:
Index forms a small bullish pattern as the opening price is near the lows of the day and closing price is near the highs of the day.
Notable action of the day, Nifty again was able to bounce back from the 13-Day EMA signals 10,400 will be acting as a strong support.
As long as nifty closes above 10,540 with a strong closing to create a new uptrend. Until it breaks this level nifty will be consolidating between 10,400- 10,535 levels.
In derivatives nifty futures premium decreased from 26 points 22 points indicates indecisiveness among the traders and PCR ratio is currently at 1.15 from yesterday 1.07 which signals put positions have added more today than calls. FII’s have sold 448 crores in index futures and bought 996 crores in index options. All these findings is indicating range bound movement in the days to come.
Traders can wait for nifty levels above 10,535 or below 10,400 with a force to create trading position.
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 range bound movement.
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 losing by 26 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.1359. 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 4-Jan-2018 9.30 PM to get the nifty view for 5-Jan-2018.
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