Charts : TATA STEEL - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
After considerable effort, Nifty Future did manage to break previous high of 4703 and managed to make new 52 week high of 4731. This feat was achieved in the last one hour of trade - which helps the bulls to get buying support due to short covering from positonal as well as day traders. Alongwith Nifty, many stocks have made new 52 week high.
For tomorrow buy positon can be created above 4734 and STOP LOSS of 4700 and target of 4750 - 4800 and major resistance @ 4830.
New fresh short position can be made below 4670 and stop loss of 4700 and target 0f 4650 - 4600 and 4525.
Though Nifty Future and many stocks are making 52 week Highs, caution is advised, as with the New High today, RSI is showing a Divergence and Stochastics is already in overbought position. Please do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
Words of Wisdom
Risks and rewards are always proportional.
The latter, in life as in markets, requires prudent management of the former.
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