Charts : SBI - SAIL - RELIANCE
Charts : MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
At last we made it to 5000 but you can say that we just had a glimpse of it because Nifty Future could harldy trade above that level for any significant length of time. This was mainly due to weakness in Reliance. Even after the clarification from the Company in the last hour of trade, it could not show any recovery.
Does it mean that the party is over and we start shorting Nifty Future? Well, I don't thinks so - as one day and weakness in one of the heavy weights, is not eonough to say that we have made the top. In case Nifty Future goes below today's low of 4955, it will find good support at 4925 and 4900 as shown in the attached chart.
If after the fall Nifty Future goes above 4925, one can buy with 4900 as stop loss. On higher side 4955 and 5000 will be resistance.
Put Call Ratio of index options was @ 1.54 as against 1.61 yesterday.
As Monday is a trading Holiday, market participants may be extra cautious in keeping the positions open for a long weekend.
Please to do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
Thank you, Sir.
ReplyDeleteUmashankar.A
Chennai