Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future opened with a gap, but could not sustain above 5065 for long and eventually by the end of the day came down mainly due to nervousness in INFOSYS before the results . Post market, in a surprise move, Reliance announced 1: 1 bonus.
Tomorrow's opening session should see the euphoria/short covering in Reliance which could keep the market above 5000 levels, but looking at the past two day's trading, sustainability of market at higher levels only on this factor alone looks difficult. On higher side, Nifty Future may find resistance at 5065.
For tomorrow, after trading at higher levels, if Nifty Future moves below 5000, it would be a good opportunity to go short, with stop loss of 5035. On downside, Nifty Future will find support @ 4935 - 4920 - 4890 and 4840. If we see these levels, it will be prudent to square of short position.
Put Call Ratio of Index Options remained at 1.37 as against 1.32. This has been consistently remaining at relatively high levels.
For tomorrow, after trading at higher levels, if Nifty Future moves below 5000, it would be a good opportunity to go short, with stop loss of 5035. On downside, Nifty Future will find support @ 4935 - 4920 - 4890 and 4840. If we see these levels, it will be prudent to square of short position.
Put Call Ratio of Index Options remained at 1.37 as against 1.32. This has been consistently remaining at relatively high levels.
Tomorrow could be a big range day so please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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