October 23, 2017

MTECHTIPS

 

MTECHTIPS:INTRADAY TRADING ANALYSIS FOR NIFTY

 

Nifty dec expiry future today closed at 5980 with gains of 41 point or 0.68%.today nifty future with gap up opening triggered sell off as we giving last 2 reports. we seen today low near 5870 and we suggested shorts for targets of 5850 which become 5870 today.and as mayawati support for fdi news came in all shorts shapely cut which set bull run in last hour.today nifty future high was 5984 and new high in 2012.nifty spot today closed at 5930 now expect again 30-40 points rally and then correction.today 1.1% open interest build up seen.

 

for tomorrow 5948 is major support for dec future and buying area for fresh buyer.5900 remain strong support and all long side stoplosses must be below this.

on upside nifty traders must modify target at 6040-6065 till this week

 

 

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