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Nifty Target for Tomorrow 9th Oct 2017

Nifty Support & Resistance and target for tomorrow 9th October 2017:

Nifty will face resistance near 10,000 and 10,150 levels whereas supports are placed at 9,950 and 9,920 levels. Tomorrow’s upside target for nifty will be 10,000 levels and on the downside 9,920 levels are possible.

Nifty trading calls for 9th October 2017:

Recommended on Oct 5th 2017, Nifty is looking strong compared to bank nifty so pair trade in Nifty and Bank Nifty will be safe trade, so buy Nifty futures 9,920 and sell Bank nifty futures at 24,140 for a target of 6000 and stop loss of Rs.4000. Hold on the positions as currently gaining by Rs. 2733 for 2 more days.

How was the nifty’s intraday movement today October 6th 2017?

Nifty opened the day on a positive note by showing a gap up of 20 points and then moved higher and higher to hit the intraday highs of 9,989.35.

Overall a positive trending day where nifty closed the day near the high point of the day at 9,979.70 by gaining 91 points.

Only 6 of 50 nifty stocks closed in the red. Gail is the top gainer by gaining 5.06% and Hero Motocorp is the top dragger by losing 1.37%.

Opening: 9,908.15; High: 9,989.35; Low: 9,906.60 Closing Price: 9,979.70(+91.00)

Nifty 26 OCT 2017 Expiry Futures closed at 10,003.40(+94.70)

Nifty Forecast/Outlook for 9th Oct 2017:

Today’s movement in the nifty shows a strong bullish pattern as nifty opened near the low point of the day and closed near the high point of the day.

Notable action of the day, nifty was able go past 9,920-9,950 levels which was acting as an strong resistance for the past 4 days, but the picture in index futures is not reflecting the same strong movement as the open interest is falling and also FII’s have sold 311 crores.

Even though by strong global cues nifty crossed 9,950 to our surprise. We are expecting market to reach 9,400 levels in the near term and it’s a sell on rise market

Nifty will be facing multiple resistance going forward and it needed to trade above 9,920 levels.

Over all nifty is looking strong compared to bank nifty so traders can short bank nifty and buy nifty as a pair trade.

What are the indicators which are positives and negatives for nifty?

Negatives: 10150-10,200 will be acting as a strong supply zone and open interest in nifty and bank nifty futures are falling.

Positives: Markets above 5-Day, 13-day, 20-Day and 100- Day moving averages and bullish signals in the charts.

Nifty trading range for 26th OCT 2017 Expiry: Nifty can move between 9400 – 10,100 levels.

Nifty Short term trend View: As long as nifty is staying above 9,700 on closing basis is positive for nifty. Currently 9,685 will be acting as an intraday support since it’s the 11-Aug-2017 swing lows from where nifty bounce back to 10,100 levels.

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Nifty Strategies Performance:

Month Jun 2017
No of trades Only 3
Total Points Gained  325 Points Gained
Total Profit Rs 24,375

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Positional Nifty Call for 26 OCT 2017 Expiry Strategies:

  1. Wait for confirmation

Previous Calls on Nifty

  1. 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).
  2. 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).

Click here to view the bank nifty target for tomorrow

Visit our website on 9th OCT 2017 9.30 PM to get the nifty view for 10th Oct 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</

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