Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
Last week Nifty Future closed higher for 7th consecutive week. It made a new top on Thursday, which was mentioned as a likely turn date. After the last day of trading in our markets on Thursday, US & European markets have been weak on Thursday & Friday and hence it is most likely that we will have a weak opening on Monday.
Nifty Future can be sold below 5030 with a stop loss of 5070. It will get support @ 4990 - 4950 and 4920.
Put Call Ratio of Index Options reduced to 1.16 from 1.31 on the previous day.
It would not be advisable to rush for buying Nifty Future unless there is a decent correction, and buying should be considered only after about a day or two when the market stabilises after some correction.
Till then, trade cautiously and do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
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