Nifty future daily chart technical analysis
Nifty future of November expiry on Friday closed at 10619 with loss. On daily chart nifty future price trend is bullish and momentum is building on long side. Nifty future 5 days average is around 10560 which will be buying zone for traders. Traders can follow buy and accumulate view around 10500-10560 zone with strict stoploss below 10450 for big upside targets. On upside 10740 and 10825 are 50 and 100 days average levels and strong hurdles as well as target zones for this bullish move. Above 10900 expect medium term reversal from correction to bullish. Nifty daily chart stochastic is bullish but in overbought zones so expect correction and consolidation ahead. Nifty daily chart macd is above zero with bullish divergence suggesting bullish moves. For month of November, nifty future above 10470 will remain buy on dips and on upside technical target zones will be around 10900 and then 11500. Nifty 10900CE December expiry this week rallied from 117 to 151 and given 30% returns for buyers. For next week nifty 10900ce December will remain buy on dips for big upside targets.
Nifty future weekly chart technical analysis
Nifty future on weekly chart showing gains for this week. In this truncated week nifty future rallied from 10500 to almost 10650 means almost 150 points bottom to top rally. On weekly chart, nifty future is trading around 50 week’s average but below 20 weeks average and above 5 weeks average. On upside 10800 is 20 weeks average strong hurdle. On chart look like nifty bottomed out around 10000 and now bouncing back towards previous high of 11755 From medium to long term view, nifty future above 9750 remain buy and accumulate and on upside targets were 11400 and then 12250. Out of which nifty already done 11400 and now after correction if this rally sustains then expect 12250 level till end of 2018. If not then 9750 is coming for sure. Weekly chart stochastic is oversold with buy signal suggesting buy and accumulate strategy. Weekly chart MACD is below zero but with recovery signals. For genuine nifty future tips and nifty option tips with support and follow ups, subscribe to our nifty advisory services.
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