Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE :
In today's trading Nifty Future did not go below 4900 and had sharp bounce with Nifty Future
making a high of 4995. Much of this bounce should be given to the last day of FNO settlement.
making a high of 4995. Much of this bounce should be given to the last day of FNO settlement.
With Infosys becoming weak, Nifty Future should maintain downside bias. Moreover, Nifty has continued to make lower top and lower bottom for the second consecutive day. Considering the importance i gave to resistance @ 5050 level and that too on an important Gann date, i would continue to avoid buying at higher levels,
For tomorrow, Nifty Future should be sold below 4975 with stop loss of 5010. On the down side Nifty Future will get support @ 4920 - 4900 - 4875 and 4810. Break of today's low can take Nifty Future up to 4775 from where we can see a meaningful bounce. Moreover, if Nifty Future closes below 4955 it will make it a negative week after gains in the previous four weeks.
Put Call Ratio of Index Options was marginally down @ 1.11 as against 1.19 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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