Charts: TATA STEEL - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
Yesterday, Nifty future took support on the trend line and had a pull back but gave up major
gains in the last one hour. Although it closed in the green, the EOD candle does not give much confidence for bullishness at this level. On break of the Trend Line on 30 min chart, Nifty Future will get weak.
For today, short position can be taken below 4440 with stop loss of 4470 and target of 4390 - 4325. This level can provide good support due to Trend Line and 50 % Retracement Level on the EOD chart. It is advisable to cover the shorts not only in Nifty but also in individual stocks.
On Break of this Trend Line, market will get support at 4220 but overall weakness will accelerate.
At this stage i would not recommend any fresh buying.
Please Trade cautiously and use STOP LOSS without fail.
With Best Wishes,
Ketan Asher.
Words of Wisdom
Have a firm stop-loss point for all activities: jobs, relationships, and personal involvements. Successful people are successful because they cut their
losing experiences short and ride winning experiences.
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