NIFTY FUTURE EOD NIFTY FUTURE 30 MIN
NOTE : Due to paucity of time, i will not be analysing individual scrips. Those readers referring to individual scrips should refer to the TP Grid as it will serve their purpose of getting major trend change points.
From now on, i will post my view only on NIFTY FUTURE and also post the TP Grid on daily basis. Hopefully, this change will enable me to upload my post by 10 p.m.
Inconvenience to the readers is regretted.
NIFTY FUTURE:
During the day Nifty Future made a new high to 5139 but shed some gains by the end of the day to close @ 5108 which is higher than previous day.
Although the gains have been small for the past 3 days, market looks steady. Another important feature fot the day is that Bank Nifty and FMCG Index look quite strong.
In the event of weak opening, Nifty Future can come down till 5040 to take support @ 50% level and a trend line as shown in 30 min chart. In absence of any specific negative indications, i will continue to maintain positive bias and suggest buying Nifty Future around 5040 with stop loss of 5000. On higher side Nifty will face resistance at 5150 and 5185.
Short position should be taken only below 4990 with stop loss of 5030, although i see remote possibility of this event.
Put Call Ratio of Index Option is at 1.33 as against 1.29 yesterday.
Tomorrow being a FNO settlement can be a volatile day, so please do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
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