NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
PLEASE SEE THE CHARTS - IT WILL BE WORTH YOUR TIME.
NIFTY FUTURE:
In today's trading, neither did Nifty Future break yesterday's low, nor did it break the high. It just languished for the whole day within 60 points range. As can be seen on the 30 min charts, it is within a triangle, the breakout from which will take it by 100 points in the direction of the break out. Even PCR data is not helping me to hazard a guess.
For tomorrow's trading, only the aggressive traders should go long if Nifty Future crosses above 5155 with a stop loss of 5125. As such my hesitancy for long position is due to the hurdles it will face on its way up. 5185 and 5225 will be major hurdles.
On down side one can go short below 5070 with Stop Loss of 5105. It will find support @ 5040 - 5000 and 4950. One should not rush to close the short position if Nifty Future goes below 5040.
Put Call Ratio of Index options remained almost unchanged @ 1.07 as against 1.06 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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