Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTRURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE :
In Fridays' trading Nifty Future took support on two occasions, on the trend line shown in the 30 min chart and closed near the high of the day. Reliance too had a bounce after making a low of 2109. While Nifty future looks ready to scale new highs after breaking the resistance @ 4900, one has to see market's reaction to the front page story in ET about Bad Loans with ICICI BANK. Hence, it is advisable to wait for half an hour before making new commitments,
As indicated in Friday's post, i continue to maintain that at these levels, it would be safer to deal in Nifty puts & calls as the volatility will be higher.
Near the previuos top of 4890, one can go short with stop loss of 4925. Alternatively, if the market goes below 4785, one can go short with stop loss of 4810. The supports at the lower levels will be 4750 - 4725 - 4680 and 4650.
New buying should be considered only above 4925, with stop loss of 4880.
Put Call Ratio of index options continues to remain above 1 @ 1.24 as against previous day's 1.38.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment