Charts: TATA STEEL - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE :
Despite good cues from US markets, Nifty Future did not make any attempt to go higher than yesterday's level. This makes it evident that market needs a correction before it can go further up. However, i would like to add that until Nifty Future closes below 4600, one should be cautious in short positions.
In the EOD chart, i have shown .618 level at 4766 (6336 to 2228), which it has not yet touched and may be with little help from RELIANCE it may try to acheive this level before giving bigger correction.
One can go short in Nifty Future below 4650 with stop loss of 4685. On down side, below 4600, Nifty Future may find support @ 4570 and 4530.
I would not advise any long positons for now.
Please do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
Words of Wisdom
Addictive traders get high from action;
great traders get high from mastering markets--and mastering themselves.
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