HOPE U LIKE THE NEW LOOK FOR THIS BLOG !
Nifty Future could not go higher than 4225 despite best efforts. The notable feature was that it did not break yesterday's low, thus confirming the view that we are near the bottom. Another notable feature was that FMCG index and Auto companies performed better than yesterday.
Today's candle still leaves the possibility that if 4150 is broken than Nifty future can go down till 4000 (+ or - 25 points). I continue to maintain the veiw that at this level we can expect a pull back rally. As suggested yesterday, one can buy Nifty Future near 4000 with stop loss of 3975 or buy 4100 Call depending on the traders risk profile. Above 4230 Nifty Future will find resistance at 4260 and 4310.
RELIANCE FUTURE : I continue to maintain the view for buying Reliance around 1800 with stop loss of 1775. Above 1915, it can go up to 1950 and 2000 which will act as resistance levels.
INFOSYS FUTURE: It has taken support at the Trend Line. If it goes below today's low, it will break the trend line and hence it will be better to buy around 1660 levels as shown in the chart, with stop loss of 1640. On higher side 1750 and 1800 will act as resistance.
Please do not forget to use stop loss levels.
With Best Wishes,
Ketan Asher.
Today's candle still leaves the possibility that if 4150 is broken than Nifty future can go down till 4000 (+ or - 25 points). I continue to maintain the veiw that at this level we can expect a pull back rally. As suggested yesterday, one can buy Nifty Future near 4000 with stop loss of 3975 or buy 4100 Call depending on the traders risk profile. Above 4230 Nifty Future will find resistance at 4260 and 4310.
RELIANCE FUTURE : I continue to maintain the view for buying Reliance around 1800 with stop loss of 1775. Above 1915, it can go up to 1950 and 2000 which will act as resistance levels.
INFOSYS FUTURE: It has taken support at the Trend Line. If it goes below today's low, it will break the trend line and hence it will be better to buy around 1660 levels as shown in the chart, with stop loss of 1640. On higher side 1750 and 1800 will act as resistance.
Please do not forget to use stop loss levels.
With Best Wishes,
Ketan Asher.
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