Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE :
Further to yesterday's down move and weakness in the US markets, Nifty future did open lower, but not as much as was expected. This can be attributed to the underlying strength of the market. However after recovering up to 4660, market remained volatile/directionless with downward bias throughout the day. The daily candle on EOD chart is also having bearish undertone. On the attached Nifty Future 30 min chart, i have drawn an ellipse which shows the wide range in which Nifty Future can move before giving a break out on the upside.
For tomorrow selling can be considered below 4590 with stop loss of 4635 and target 4550 and 4500.
If weakness in Reliance/Ongc continues tomorrow, it can take the market down to the levels indicated above.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment