NIFTY FUTURE 30 MIN NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading, negative impact of Dubai problem continued and Nifty future opened with a downside gap. By mid-day, it made a low of 4801 and made a sharp recovey to go upto 4960 and close at 4946. The only hope for the bullish view is the sharp upmove from 4800 levels.
For tomorrow's trading, Nifty Future will face resistance at 4970 and major resistance at 5010 levels, as multiple trend lines will act as resistance till Nifty Futue crosses 5025. Buy position can be considered if Nifty Future opens at about 4940 levels, with a stop loss of 4900 level. The levels referred above - 4970, 5010, 5025 and 5050 will act as resisitance levels. It is not advisable to remain short if Nifty is able to cross 5075.
Short position can be considered only if Nifty Future trades below 4865, with stop loss of 4900. On the down side it will find support at 4800 and 4765.
Put Call Ratio of Index options remained unchanged at 1.20.
Please do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
Camp: Ahmedabad.
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