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Nifty Target for Tomorrow 29th June 2017

Nifty Today June 28th 2017:  Today Nifty opened the day near the day’s high by gaining 9 points. Nifty then started to move lower to break 9500 but didn’t break the yesterday’s low of 9473.45 which is small victory for the bulls. Even though yesterday’s low was defended nifty closed before 9500 and way below all the key moving average.

 Nifty_Bulls_Bears_30_70Nifty 28th June 2017 Intraday Movement:

Opening: 9520.20, High: 9522.50, Low: 9474.35, Closing: 9491.25

Nifty Spot: 9491.25(-20.15)

Nifty 29 JUN 2017 Expiry Futures: 9495.60(-17.40)

Support: 9460, 9430

Resistance: 9580, 9630

Nifty Forecast/Outlook for 29th June 2017: Nifty forms a small bearish candle and was in a touching distance to reach its 50-Day Exponential moving average which is placed at 9460. We expected market to bounce back from 9460, 9420 levels. As tomorrow is expiry and we can see a lot of call writing at 9500, 9550 levels which can restrict the up move. So one can use the bounce back to go short for an initial target of 9460, 9430 till market crossed 9615.

 Nifty’s Negative Signal: Bearish Candle, strong resistance around 9700 and well below the moving averages.

Nifty’s Positive Signal: Long term UP trend and nearing 50-Day Moving average.

Nifty View for Thursday:  Sideways with Negative bias.

Nifty Long Term trend: UP

Nifty Target for 29th June 2017: Nifty can move between 9460 – 9550 levels.

Nifty Long term up trend reversal point: Closing below 9160 Levels.

Click here to view the Gold Trend

Closed Nifty Jun 2017 Expiry Strategies:

  1. Position Created on 12-Jun-2017: Buy One lot 9700 PUT @ 121 and Sell Two Lots of 9400 PUT @ 25. Total Premium Outflow : 71 hold for target of rs.200 with a revised stop loss around :130 Target Achieved Gain of 130 Points (i.e. Profit of Rs. 9675)

Open Nifty Strategies:

Visit tomorrow for new strategies for the next expiry.

Click here to view Bank Nifty target for 29th June 2017

Visit our website on 29th June 2017 8.30 PM to get the nifty view for 30th June 2017.

Disclaimer – No Author at myfinanicalZone.com 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 Target for Tomorrow 29th June 2017

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