Nifty Futures Trend, View, Prediction,Analysis, Target For 17-4-18

Nifty Share Price / Nifty 50 / Nifty Futures today’s stats

Nifty spot LTP 10528 (+47.75, +0.46%) , Nifty 28April Futures LTP 10,545 (Previous Close 10490, Volume 1,04,621) , Nifty 31May Futures LTP 10575 (Previous Close 10519, Volume 4,759 ), Rollover Difference 29.3 points, Rollover percent 6.12% , Open Interest 372711 , OI Change 2.41%, PCR (Put Call Ratio) 1.42, Today’s Low-High 10396-10540. Top Gainer was Cipla and Top Loser was Tata Motors. Most Open Interest Up INFY Most Open Interest Down Torrent Pharma. Based on Open Interest Data the support for Nifty is at 10309 and Resistance is at 10589

Nifty Share Price / Nifty Futures Todays Trend, Support, Resistance, Prediction, Analysis, Target and View is given below

Nifty Futures today opened lower on the back of news that western powers started air strike in Syria over the weekend but immediately after opening lower Nifty Futures started moving higher and continued moving higher and ended the day around the high point today’s price trend activity once again has generated a lot of euphoria and now carelessness is creeping into the markets (Do have a look at the momentum indicators and volatility index, you will get a fair bit of idea from them). but for now, once again let us look at the overall picture. Based on our trend analysis of Nifty Futures charts our prediction and view is that Nifty Futures will not come much higher and we do not see a  target of 11,000 that most market participants are talking about nor do we think that much upside is possible on a sustainable basis sure there will be some volatility around these levels but keep in mind that there are significant resistances present on the upside around the levels of 10650 spot Nifty levels mentioned so this is not the area to get euphoric and initiate buying in the Indian stock market.  Based on our analysis we see that the downside targets for Nifty Futures remains open and purely from a chart perspective there are not many significant supports on the way down that could stall the downward momentum.  There are too many macro headwinds consistently building up for Indian equities and looking at the headwinds which are increasing all the time we do not feel that this is the best time to remain invested or to initiate buying from a portfolio standpoint.  Our view remains that we will get much better prices and valuations to enter the Indian stock market and Nifty has a long way to go before we can see deep value in stocks. Once again we are saying that we are not disputing that some stocks have corrected from their recent highs but even after that has happened we still do not have much value available from a broader market perspective because the stocks that have corrected still are trading at hefty valuations but the bigger problem for them is not the hefty valuations it is that earnings have not picked up in those stocks and till the time earnings do not pick up (which have been elusive for the past 4 years now) we do not see any point even in nibbling into the Indian stock market.

When we take a look at Nifty Futures chart purely from a technical analysis stand point near term supports are present around the 10,300 area on spot Nifty and near term resistances are placed around the 10,650 levels but looking at the deteriorating macro picture taking into account where we see Crude oil futures heading we do not think from a long to medium term perspective that Nifty will hold the support of 10,300 area in the immediate near term there could be some more choppiness and Nifty Futures could still move a bit more higher even from current levels but our advice remains to reduce net longs in portfolio and get onto as much cash as possible neither the charts not the macro nor main trend so based on combined analysis we do not think that buying is the best strategy for now in Nifty or the Indian stock market as we do not see Indian equities doing well over the next few months.

From an Astro cycle and time cycle perspective we have guided in our previous post also that the coming time there could be a false trap being set up so be very careful on which side you are trading from a longer-term perspective we remain bearish but in the near term we could also take some bullish trades if we see good opportunities like the trade we did from lower side levels of around 10,000. If you are trading only on the basis of this post please use your own risk management and then only trade. This is our overall view on Nifty Futures and we will keep updating real-time live view to our clients through our Nifty Futures tips/advice given. Please manage your own risk and trade.

Nifty Futures / SGX Nifty Live Streaming Real-Time Chart which updates on a real-time basis is provided below for reference