Charts: SBI - SAIL - RELIANCE
Charts: MARUTI - ICICI BANK - NIFTY FUTURE EOD
NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In Friday's trading, Nifty Future made a sharp up move as expected. However, as Reliance did not participate wholeheartedly, it could not close above earlier high of 5083. Nonetheless, the move was good enough to keep the hopes alive for the bulls.
Tomorrow, fresh long position should be taken with stop loss of 5040. On higher side, Nifty Future will find resistance at 5150 & 5185.
Short positions should be considered only below 5000 with stop loss of 5040, although i do not expect that situation to arise.
With FNO settlement just few days away, the bull run may continue and possibility of making a new high has improved with the sharpness with which Nifty Future changed the direction.
In line with the improvement in market sentiment, Put Call Ratio of Index Options reduced to 1.10 as against 1.32 on the previous day.
Please do not forget to use the STOP LOSS.
With Best Wishes,
Ketan Asher.
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