Nifty April 26th, 2017: Nifty on Wednesday yet again seen a new all-time closing at 9351.85.Nifty opened 30 points in the green and was trading firmly in the green till 2 pm by marking new all-time high levels at 9367.00. After 2 pm nifty gave up 66 points from the top and even dip into the red by 2.30 pm to reach 9301 levels, then nifty recovered smartly to close 45 points in the green.
Nifty 26th April 2017 Intraday Movement:
Nifty Spot: 9351.35(+45.25)
Nifty 27 April 2017 Expiry Futures: 9342.10(+48.20)
Support: 9280, 9220
Resistance: Nifty in uncharted zone.
FII’s Activity 27th April 2017: FII’s bought 241 crores worth of index futures and bought 848 crores in the options.
Nifty Forecast/Outlook for 27th April 2017: Nifty formed hammer like pattern for the second day in the row. Since tomorrow is April contract expiry, there will be volatility in the market. All the indicators are showing nifty is in over bought zone. As said previously it’s time to be cautious for taking new positions and existing long can be held with stop around 9280 levels.
Nifty’s Negative Signal: Nifty nearing all-time highs, FII’s are sellers for the month and heavy call writing at 9400 levels, nifty in over bought zone.
Nifty’s Positive signal: Long term UP trend
Nifty View on Tuesday: Sideways with positive bias.
Nifty Short Term trend: UP
Nifty Target for 27h April 2017: Nifty on Thursday can move between 9250-9345 levels.
Nifty up trend reversal point: Closing below 8980 Levels.
Nifty 27 April 2017 expiry level: 9220- 9340 levels
Open Strategies: Risky trade Buy Nifty May 9500 Put @ 180 levels for target of 300 with stop around 100.
Visit for website tomorrow at 8 PM to get the nifty view for 28th April 2017.
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