Nifty Forecast/Outlook for 6th Feb 2018:
Index forms bullish pattern on 6th Feb 2018, as nifty recovered 80 points from the lows after the seeing big gap down opening of 156 points . Nifty opened below the 50-Day EMA and moved lower to clock the intraday low of 10,586.80 and recovered 116 points to reach the intraday highs of 10,702 and finally ending the day at 10,666 by losing 94 points.
In the derivatives segment, FII’s have sold 554 crores in index futures and bought 175 crores in index options .Nifty futures is trading back into the premium by 18 points.
Whereas nifty open interest is falling indicates existing positions are getting square off. As per our prediction is nifty have bounced back from the 50-Day EMA at 10,600 -10,620 levels today and we expect this to continue.
As our nifty target of 10,600 is achieved wait from confirmation to enter into new trades.
Nifty target for tomorrow 6th Feb 2018:
As Nifty is expected to trade with a negative bias, downside target of 10,600 are much possible with a small bounce to 10,700 can’t be ruled out. Nifty supports are placed at 10,600 and 10550 whereas resistance are at 10,700 and 10780.
Nifty trading calls for 6th Feb 2018:
- Recommended for 6-Feb-2018,
- Buy Bank Nifty 8Feb2018 26,100 call one lot and sell 26,500 call two lots. Hold on the positions till 8-feb-2018 expiry.Target of 10,000 and stoploss of 4000.
Nifty contributors and intraday movement of 5-Feb-2018.
Only 21 of 50 nifty stocks closed in the green. Bharti Airtel is the top gainer by gaining 4.23 % and HDFC is the top dragger by losing 4.23%.
Opening: 10,604.30; High: 10,702.75; Low: 10,586.80 Closing Price: 10,666.55(-94.05)
Nifty 22 Feb 2018 Expiry Futures closed at 10,755.85 (-71.25)
Nifty Feb 2018 Expiry trading range: Nifty expected to trade between 10,500 -11,000 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 2500.
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 6-Feb-2018 9.30 PM to get the nifty view for 7-Feb-2018.
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