October 18, 2017

MTECHTIPS

MTECHTIPS:INTRADAY TRADING ANALYSIS FOR NIFTY FUTURE

Nifty dec expiry future today closed at 5916 with gains of 7 points or 0.12%.today nifty future with gap up opening made high of 5933 and today low was 5888.total 45 points intraday movement with 1.58% open interest build up as we told in weekly analysis and as we see on chart nifty look like made top and correction is coming.but short are not suggested current levels,go short after confirmation only. nifty future intraday indicators still hovering in overbought zone.from here upside look like limited while downside rally is more possible.FDI decision and voting may influence market in upcoming days below 5900 we expect 50-80 points fall in nifty future in intraday to very short time.so option traders must buy nifty 5800pe with stoploss in intraday or for very short term.

Nifty future sell nifty future dec expiry below 5900 after confirmation signal
with 40-50 points stoploss and expect 50-80 points fall in 1-2 session.
option traders buy 5800PE for very short term.

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