Nifty a Quite Day Futures Trading Tips

Futures Trading TipsIndian Futures and Options shares were little changed on Friday after posting their biggest daily gain in eight months in the previous session as gains in foreign infrastructure stocks such as Larsen & Toubro were offset by falls in technology stocks while banks declined on profit-taking. The Bombay Stock Exchange Sensex closes at 28122 were nick up by 47 points or drive up by 0.17 percent. Nse Nifty Closes at 8514 were wound up by 20 points or plant slide up by 0.23 percent. The BSE Mid-cap gained 0.3 percent and Small-cap ended marginally down in Friday intraday futures trading.

Sensex Major Resistance on Upside at 28215-28308-28400

Sensex Major Support on Downside at 27990-27857-27765

Trend Deciding Level at 28002

Nifty Index Major Resistance on Upside at 8542-8571-8599

Nifty Index Major Support on Downside at 8469-8425-8396

Trend Deciding Level at 8498

Major Headlines

Axis Bank gain on strong Third Quarter for Year 15 growth, asset value steady

Trade Deficit shrinks to 10-month low on fall in oil prices

SpiceJet, Sun TV shoot on Maran’s depart from SpiceJet

Nifty Indices

The Nifty was quiet today after a huge surge in yesterday’s trading session. It faced resistance near the uptrend line, ie 8540. Hence the same becomes a very crucial level which the index needs to take off in order to gain momentum. On the lower side, 8388 is a very crucial support and till that is held intraday traders should utilize dips as buying opportunities for a minimum target of 8580. The Bank Nifty too is facing resistance near 18585 and it has to surpass that level in order to gain strength. The banking, cement and IT sectors continue to trend higher and we believe the pack will continue to do so in the coming trading sessions. The momentum indicators are in buy mode on the daily chart which is a quite bullish sign going forward. Hence we maintain our short term bias up.

In the daily chart the index is trading below the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8284and 8290 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8420 and 8383 correspondingly, which are crucial in the immediate run. The hourly impetus indicator encompass turned positive.

The market duration was turned positive with 682 advances and 822 declines, Unchanged 79 Total Issue 1583 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8570-8603-8637

Nifty Future Major Support on Downside is at 8488-8439-8406

Trend Deciding Level at 8521

Bank Nifty Major Resistance on Upside at 19381-19473-19564

Bank Nifty Major Support on Downside at 19162-19035-18943

Trend Deciding Level is at 19254

30 Days Simple Moving Averages @ 8278

50 Days Simple Moving Averages @ 8348

150 Days Moving Averages @ 8000

200 Days Simple Moving Averages @ 7731

5 Days Rsi at 77 and 14 Days Rsi at 62 Indicates Nifty Place in Bullish Zone, with Bullish Moment.

Futures Trading Tips

Buy Nifty Jan Intraday Fut above 8555 sl 8530 Tgt 8575-8600 {Or} Sell 8505 sl 8530 Tgt 8485-8460

Buy Bank Nifty Jan Intraday Fut above 19350 sl 19300 Tgt 19400-19450 {Or} Sell Below 19250 sl 19300 Tgt 19200-19150

Weekly Calls

Buy Astra Micro above 141 sl 123 Tgt 156

Buy Orientref above 100 sl 85 Tgt 110

Curious Fact

The coldest place on Earth is Vostok in Antarctica. Here, the temperature can fall to a freezing -89.2 Celsius.