NIFTY FUTURE 30 MIN NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future opened firm but remained side ways and weak in the first half of the day. In the second half it took u turn and sharply rose by about 100 points in the last one hour. It even closed firm near the high of the day.
Although the rise has has been sharp, i would not advise going long at this stage, as oscillators on EOD chart, do not show strength. Moreover, weakness in US/European markets can also influence the sentiment tomorrow. On higher side Nifty can go up to 5225.
In light of weak global markets, if at all Nifty Future goes up to 5225, it would be a good contrarian trade, to buy 5000 Put Option, which should be available around Rs. 50/-. Short position should be taken only below 5100 with stop loss of 5140. It will find support @ 5075 - 5045 - 5000 and 4950.
Put Call Ratio of Index Options remained at 1.06 as against 1.04 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment