Nifty Futures Todays Trend, Support, Resistance, Prediction, Analysis, Target and View is given below
Nifty Futures today had a volatile day. IN the previous few updates we have discussed about the overall macro picture for the Indian stock market. It is very clear from those few updates that near term headwinds for Indian equities remains for the time being and is constantly increasing there by eventually will put massive pressure on both earnings recovery and demand recovery so keep that picture and data points in the background because when the Indian stock markets do start reacting to all that negative macro news that is currently present and is ever increasing it should not happen that you are caught unaware. Now, let us look at the current scenario and the strategy that we feel should be adopted going forward. Needless to say that we do not recommend or advise to continue holding portfolio longs as our longer term outlook on Indian equities remains negative our view and prediction remains that we will see much better valuation entry points in the coming time so we do not recommend to hold longs and we are actively suggesting reducing longs and getting on to as much cash as possible. Now let us have a look at the current technical outlook on the Nifty just for the near term. Nifty Futures now has rallied almost 830 points from the low of 9952 which it made on 23/03/17 at that point in time everyone was bearish and was expecting 9500 but we were recommending buying into the Indian stock market with targets of 10650 and now that upper side target has been achieved. So now we see Nifty resistance around the 10820 area and we do not see any major upside from current levels while the downside gates remain open and we could be in for a nasty surprise as the open interest positions as suggesting massive long build up indicating massive bullish sentiment as of now and everyone has taken massive long positions with a view of 11,000 which we do not expect Nifty to achieve for now at least. The important thing to keep in mind is that there are important time cycle resistances and even astrological signatures coming up so how the Nifty react around them need to be watched very carefully but keep in mind that if Nifty Futures starts falling fast then we are heading lower much lower from here but where to sell when to sell and what to sell we will keep updating our clients. It may also give signals for aggressive selling so be prepared if those signals do come then we are in for some fantastic money making opportunities. As always if you are trading only on the basis of this post please use your own risk management and then only trade. Please do not over trade and always keep your risk in check before taking any trading positions. As per our near-term analysis of Nifty Futures trend our view, Nifty Prediction remains that we do not see targets of 11,000 for Nifty Futures and we could see some massive volatility in the coming 4-5 trading days so keep proper stops in place and trade.
Nifty Share Price / Nifty 50 / Nifty Futures today’s stats
Nifty spot LTP 10668 (+47.05, +0.44%) , Nifty 31May Futures LTP 10,699 (Previous Close 10739, Volume 96,617) , Nifty 28June Futures LTP 10709 (Previous Close 10746, Volume 2,559 ), Rollover Difference 9.15 points, Rollover percent 3.16% , Open Interest 332619, OI Change 1.63%, PCR (Put Call Ratio) 1.19, Today’s Low-High 10720-10647. Top Gainer was SunPharma and Top Loser was HCL Tech. Most Open Interest Up HCL Tech Most Open Interest Down Tata Motor DVR Daily Nifty spot RSI 62.76. Advance 460 Declines 1264 Unchanged 320
Nifty Futures / SGX Nifty Live Streaming Real-Time Chart which updates on a real-time basis is provided below for reference Resistance, support levels have been discussed above