Charts: TATA STEEL - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In today's trade Nifty showed weakness but did not break the Trend Line and bounced back with support from Reliance and closed @4705.
Tomorrow Nifty Future may move upto 4766 if it continues to receive support from Reliance. From the Nifty Future EOD chart you will observe that tomorrow should be a deciding day if nifty future has to move up or break the Trend Line starting from 3900.
Secondly, in Nifty Future 30 min chart you will find the trend line (shown in magenta colour) starting from 3900 could act as resistance at higher level.
Selling Nifty Future should be considered below 4650 with stop loss as 4685. On down side, once the trend line is broken, it will find support @ 4600 - 4570 and 4535. Close below 4600 should be considered as first sign of weakness.
It is not advisable to initiate long positon at this levels.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
Words of Wisdom
If you find a path with no obstacles,
it probably doesn't lead anywhere.
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