Charts : SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In today's trading, Nifty Future opened at yesterday's level and traded in a narrow range with downward bias. In the second half of the day, it broke 5000 levels and took support at 4963, before showing recovery upto 5000 and closed @ 4986. At least for today, Nifty Future has taken support on the trend line, as indicated yesterday.
Tomorrow, long position can be taken above 5010, with stop loss of 4970. on higher side, it will find resistance at 5030 and 5055. It is not advisable to remain short above 5050.
As i expect Nifty Future to take support at 4950 levels, i am not recommending short position. However, below 4950, it will find suppot @ 4875-4900 levels.
Put Call Ratio of Index Options was at 1.32 as against 1.50 on the previous day.
Please do not trade wtihout stop loss.
With Best Wishes,
Ketan Asher.
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