Nifty Support & Resistance and target for tomorrow 6th Dec 2017:
Nifty will be facing resistance near 10,180 and 10,230 whereas support are placed at 10,095 and 10,070 levels. Tomorrow’s upside target for nifty can be 10,180 levels and on the downside 10,070 levels are possible.
Nifty trading calls for 6th 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.Hold on to the positions for 2-3 days as currently losing by 14 points (Rs. 1050)
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 5th 2017?
On 5th Dec 2017 nifty opened with a negative bias by losing 9 points and further move down and down to reach the intraday lows of 10,069 by breaking the key intraday support of 10,095.
Market was able to take support near the 100-Day EMA which is placed at 10,040 levels and recovered 78 points to hit the intraday high of 10,147 by 2.20 PM.
Index ended the day exactly at the opening levels by losing 9.5 points for the day.
Only 17 of 50 nifty stocks closed in the green. Bajaj finance is the top gainer by gaining 1.88% and Wipro is the top dragger by losing 2.24%.
Opening: 10,118.25; High: 10,147.95; Low: 10,069.10 Closing Price: 10,118.25(-9.50)
Nifty 28 Dec 2017 Expiry Futures closed at 10,146.70 (-12.55)
Nifty Forecast/Outlook for 6th Dec 2017:
On 5th Dec 2017 nifty forms a doji pattern which is indecisiveness pattern, as the opening and closing price are equal.
Notable action of the day, Nifty today was able to recover more than 75 points from the lows and close at the open level. This signals pause in bearish trend and market is looking for some positive news flow to move up.
We can confirm the short term bottom in placed if nifty managed to close above 10,150 levels tomorrow.
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 sold 1470 crores in index futures and bought 454 crores in index options. As we said previously 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 10,040 in the spot levels for a target of 10,300.
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.
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.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.
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.
Disclaimer – No Author at myfinanicalZone.com is registered with SEBI or any regulating authority as a Research Analyst or an Investment Adviser. Please Consult Your Investment Adviser before making any Investment/Trading decisions based on content posted in this Website. Here we write only what we do and all information posted in this website is for Educational purpose only