Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
As anticipated market opened with a gap and took support @ 5000. Market remained sideways for better part of the day but closed near low of the day. Important thing that needs to be observed is that the market did not precipitate into a big fall, although we had to adjust to the fall in other markets.
New short position should be taken only below 4990 with stop loss of 5030. Support is expected at 4975 and 4920 levels.
Considering that there could be a short positions built up, in case the markets do not break today's low, then one can buy tomorrow above 5030 with today's low as stop loss. On up side 5045 and 5065 - 5080 will act as hurdles. Do not remain short above 5065 as squaring of short position itself can lead to a new top.
Put Call ratio of index options is marginally higher 1.21 as against 1.16 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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