October 21, 2017

MTECHTIPS

MTECHTIPS:INTRADAY TRADING ANALYSIS FOR NIFTY FUT

Nifty dec expiry future today closed at 5942 with gains of 14 points of 0.23%.today nifty future hit high near 5961 while todays low point was 5935.total 26 points intraday movement with 1.22% drop in open interest.today OI shed is due to short covering and may continue in upcoming sessions. nifty spot today closed at 5929 with gains.as we given yesterday nifty on chart given sharp reversal and trending higher.on upside today almost touched our given target 5965. for tomorrow,nifty future trend and momentum both bullish and above 5920 support level traders must maintain long positions for same targets of 5965 to 6000.if slips below 5920 and hold there then nifty gain enter in range bound to consolidation phase.shorts suggested below 5850 on confirmation basis. option traders can buy nifty 5900ce jan for intraday only.

Nifty future stay long in nifty future for targets 5965 and then 6000
stoploss of 5920 is strict for all traders.
option traders can buy nifty 5900ce jan for intraday only.

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