Charts: TATA STEEL - TATA POWER - SAIL
Charts - RELIANCE - ICICI BANK - NIFTY EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
Yesterday's close of Nifty Future has been near the high of the day, which augurs well for today's opening session.
For today, we can consider buy trades above 4602 and sell trades below 4590, with 25 points stop loss. It would be bettter to do the trades after 10.30 am, as by then the market would get time to stabilise.
On higher side 4660 could be a major hurdle as shown in the attached 30 min chart. There after 4680 could act as resistance. In case market goes above 4700 it is better to buy 4800 Call as protection against any short position in Nifty Future.
On lower side, below 4590, Nifty Future could get support @ 4525 and will get weak below 4500, with support @ 4450 and 4400.
As stated above it is better to look for trades (even in individual stocks) after watching the market action for the first 30 min so that we are not stuck on the wrong side of the market.
Please do not trade without STOP LOSS.
With best Wishes,
Ketan Asher.
Words of Wisdom
Success in trading and life comes from knowing your edge,
pressing it when you have the opportunity,
and sitting back when that edge is no longer present.
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