Home / Market / NIFTY / Nifty Target for Tomorrow 10th Oct 2017

Nifty Target for Tomorrow 10th Oct 2017

Nifty Support & Resistance and target for tomorrow 10th October 2017:

Nifty will face resistance near 10,015 and 10,050 levels whereas supports are placed at 9,950 and 9,920 levels. Tomorrow’s upside target for nifty will be 10,015 levels and on the downside 9,920 levels are possible.

Nifty trading calls for 10th 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. Position is currently gaining by Rs. 587.25 and hold on the positions for 2 more days as today is an range bound movement in market.

How was the nifty’s intraday movement today October 9th 2017?

Nifty opened the day on a positive note by showing a gap up of 9 points and moved lower to hit the day’s low of 9,959.45 by 9.20 AM.

After hitting the lows nifty moved higher to reach the day’s high of 10,015.75 by 10.05 AM.

After 10.10 AM nifty was moving in a range of 40 points till the end to close the day at 9,988.75 by gaining 9 points for the day.

Overall it’s a range bound day for markets and nifty closed near the opening levels.

Only 21 of 50 nifty stocks closed in the red. Tech Mahindra is the top gainer by gaining 1.41% and Aurobindo Pharm is the top dragger by losing 2.27%.

Opening: 9,988.20; High: 10,015.75; Low: 9,959.45 Closing Price: 9,988.75(+9.05)

Nifty 26 OCT 2017 Expiry Futures closed at 10,016.55(+13.15)

Nifty Forecast/Outlook for 10th Oct 2017:

Today’s movement in the nifty shows a Doji pattern which suggests indecisiveness in the market , as opening and closing prices are at the same levels.

Notable action of the day, nifty was finding tough resistance near 10,015 levels and also index is forming higher highs and higher lows for the past 6 sessions. FII’s was selling for the second day in the row as they sold 29 crores in index futures today.

If index managed to close below 9,950 levels then we can say the intermediate top is formed. Nifty as completed the retraced move of 61% of the 491 points down move from the highs of 10,178 made on 19-sep-2017 and the lows of 9,687 made on 28-Sep-2017.so index will be facing the tough resistance near 10,015 levels.

Nifty needed to close above 10,050 levels or below 9,950 for the next up or down move.

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

Negatives: 10150-10,200 will be acting as a strong supply zone and FII’s are increasing the short positions.

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.

Heritage foods have announced stock split. Click here to know more!!!

Nifty Strategies Performance:

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

Click here to view the Gold rates today

Positional Nifty Call for 26 OCT 2017 Expiry Strategies:

  1. Wait for confirmation above 10,050 or below 9,930 levels to initiate a positional trade.

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 10th OCT 2017 9.30 PM to get the nifty view for 11th 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</

Check Also

Nifty 27th Feb 2018

Nifty Target for Tomorrow 31st Jan 2018

Nifty Support & Resistance and target for tomorrow 31st Jan 2018: Nifty will be facing resistance …

Leave a Reply

Your email address will not be published. Required fields are marked *