MARUTI
SBI - SAIL - RELIANCE
ICICI BANK - NIFTY FUTURE EOD - NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In today's trade market continued its upward move with support from Reliance and SBI while Infosys was weak. However, in the second half, market could not sustain the highs and gave up most of the gains to close the day near the open and therby EOD candle is a doji - which suggests a pause after the last two day's move of 200+ points. In view of the doji, it is better to initiate fresh bullish trades only above 4850 and sell trades below today's low of 4785.
Tomorrow, short position may be taken if Nifty goes below 4770 with stop loss of 4800 with support at 4725 - 4700 & 4660.
Interestingly, the Put Call ratio of Index Options marginally increased to 1.22 over yesterday's level of 1.19. PCR > 1 indicates that bias is towards bearishness. www.investopedia.com/terms/p/putcallratio.asp
Please do not trade without STOP LOSS.
With best wishes,
Ketan Asher.
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