Charts: TATA STEEL - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE :
Today Nifty Future did not break yesterday's low or high, but it is worth pointing out that Nifty Spot and BSE Sensex did make a new low but could not make a new high above yesterday - thereby starting the process of making lower low and lower high. During the day heavyweights did not participate much but B group shares performed better, resulting in positive advance/decline ratio throughout the day.
Does this mean the down move is over? I don't think so. Today's up move can be attributed to a pullback after yesterday's sharp decline and also due to positive guidance from Asian markets and followed up by European markets in the afternoon. Performance of Reliance as well as Infosys was lackluster and hence i do not believe that down move has ended.
Tomorrow, fresh sell position can be taken below 4430 with STOP LOSS OF 4460. Once Nifty Future breaks 4390 the fall will accelerate and possibly break the much talked about 4350. On break of 4300 it will also break the trend line on EOD chart and Nifty Future can go down to 4220.
If Nifty Future closes above 4500, i will have to accept that my view is wrong.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
Words of Wisdom
Pessimism never won any battles.
thank,s
ReplyDeletefrom where you take real time data ?
please help.