Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In today's trading Nifty Future took support @ 4792 and saw a sharp recovery that did not sustain and at close it formed a 'Doji' candle for the day, indicating indecisiveness and thus leaving a possibility for a downside tomorrow.
Tomorrow's trading should mainly be influenced by Reliance results which are normally announced after the close of the market. This coupled with FNO settlement day should increase the volatility. Considering Reliance close today, i am inclined to suggest that today's low should hold tomorrow with a remote possibility of Nifty Future going down to 4765 levels (refer Nifty Future EOD chart) - depending on US markets tonight.
Tomorrow, it will better to consider buying Nifty Future above 4840 with Stop Loss of 4790. On higher side Nifty Future will find resistance @ 4865 - 4900 and major resistance around 4925 level. In the best case scenario, Nifty Future can go up to 5000. Buying should be done only for trading purpose as market may come down after FNO settlement.
Put Call Ratio of Index Options has after almost a month seen a level below 1 - 0.93 as against 1.02 on the previous day. This too suggests that market participants expect a bounce from this level.
Please do not forget to put STOP LOSS.
Put Call Ratio of Index Options has after almost a month seen a level below 1 - 0.93 as against 1.02 on the previous day. This too suggests that market participants expect a bounce from this level.
Please do not forget to put STOP LOSS.
With Best Wishes,
Ketan Asher.
Words of Wisdom
We do not see things as they are, but as we are.
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