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Nifty View 17th April 2017

Nifty April 13th, 2017:  Nifty fall was expected due to global weakness. Index opened 0.15 points below the day’s high at 9202.50 and started to fall deeper after taking out the 13-EMA. Finally Nifty found support at 9144.95 and closed just above 9150.

Nifty 13th April 2017 Intraday Movement:

Opening: 9202.50

High: 9202.65

Low: 9144.95

Closing: 9150.80

Nifty FII activity 10thApril 2017: FII’s bought 146 crores in Index futures and bought 1984 crores in Index Option today.

Nifty Spot: 9150.80 (-52.65)

Nifty 27 April 2017 Expiry Futures: 9182.25 (-40.95)

Support: 9130, 9080

Resistance: 9250, 9280

Nifty Forecast/Outlook for 13th April 2017: Nifty forming a Bearish Belt Hold pattern, where the nifty opening price is same as the day’s high is a weak signal. As said previously to square off the long trades if nifty manages to close below 9160 levels. Nifty having a minor support near 9120- 9140 zone and a strong base at 9050 so one can expect a bounce back to 9200, 9250 levels. So better to wait and watch in this uncertain zone.

Nifty’s Negative Signal: Bearish Belt Hold Pattern, Nifty below 13-EMA and 9160 levels.

Nifty’s Positive signal: Nifty 27-Apr-2017 Expiry Open interest decreased by 2.51%, Nifty future premium increased from 19.75 to 31.45, FII’s turned buyers with small buy figure and long term UP trend

Nifty Daily Term trend: Sideways with negative bias.

Nifty Short Term trend: UP

Nifty Target for Today 17th April 2017: Nifty today can move upside with a target of 9200 and 9250 and the downside will be limited with a target of 9130, 9080

Nifty up trend reversal point: Closing below 8980 Levels.

Opening Strategies: Buy Nifty @9240 levels with stop around 9130 for a target of 9350.

Current Loss:  90 Points

Disclaimer – No Author at is registered with SEBI or any regulating authority as a Research Analyst or an Investment Adviser. Please Consult Your Investment Adviser before making any Investment/Trading decisions based on content posted in this Website. Here we write only what we do and all information posted in this website is for Educational purpose only

This post first appeared on My Financial Zone, please read the originial post: here

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Nifty View 17th April 2017


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