With support from US markets, Nifty future opened at 4025 - with a gap and thus resistance of 4000 was taken care of in the opening session itself. On the Nifty Future chart, i have indicated a pattern description. Today's pattern is very close to the typical Morning Doji Star, but the gap left today and the hurdle at 4200 should be taken into consideration and at best can be treated as a pull back rally.
Tomorrow, on upper side Nifty future will find resistance at 4155, 4170 and 4200. On down side, Nifty future below 4075 should be considered as getting weak. At 4200 one can go short with stop loss of 4230.
RELIANCE FUTURE:
It can be bought in the opening session with stop loss of 1800 and target of 1875 and 1905. Below 1770 one can go short, with stop loss of 1801.
INFOSYS FUTURE:
Today Infosys crossed the hurdle of 1800 and closed at 1807 i.e. near the high of the day. Two day close above 1842 it will take it into new area. Sell in Infosys may be considered only below 1785.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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