NIFTY FUTURE :
As expected, Nifty Future openend with a Gap, but traded during the day in a narrow range. From the charts for individual stocks displayed above, you will obsereve that for some of the stocks viz. Tata Steel and SAIL, the range was too narrow to even offer a good trading range. The banks stocks could not sustain the early gains and almost closed near the days opneing prices. All that was doing great - as in the past few weeks, were B Group Stocks and this helped the market to post a good Advance/Decline ratio through out the day.
For tomorrow, Nifty Future sell should be consider only below 4590 with Stop Loss of 4625 and support at 4561 and 4525. Nifty Future will get weak below 4500.
For those who are trading on the bull side, should keep in mind 4660 and 4700 as hurdles.
Whether party at the US markets will help our cause of going above 4730 should be known in the next couple of days. Till then trade cautiously and do not forget to put the STOP LOSS, Market never treats anyone kindly between Monday to Friday.
With Best Wishes,
Ketan Asher.
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