Charts: SAIL - SBI - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In Friday's trading, the hopes of revisiting 5000 have been kept alive. Nifty Future may cross this level tomorrow but will find 5040 as a major hurdle as shown in the attached Nifty Future 30 min chart.
In case Nifty Future goes above 5000, all long positions should be trailed with stop loss of 4990. Similarly, all Calls of 5000 & 5100 should also be trailed appropriately since the time to expiry is coming close.
On short side it is better to wait till Nifty Future goes below 4900 and stop loss should be kept @ 4925. Below this level Nifty Future will find support @ 4865 and 4800 levels.
Put Call Ratio of Index Options increased to 1.65 as against 1.54 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: Today is an important Gann date - 22nd September - half of the year, that coupled with 5050 level (twice the levels of 2525 from where this up move has begun) can be an important turn date, and could take market down to test 4750 level.
PS: Today is an important Gann date - 22nd September - half of the year, that coupled with 5050 level (twice the levels of 2525 from where this up move has begun) can be an important turn date, and could take market down to test 4750 level.
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