NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In yesterday's trading, Nifty Future after testing the lower trend line of the triangle during the 1st hour of trade, made a sharp up move to the upper trend line of the triangle, but could not decisively break out of the triangle. Yesterday's price movement has indicated an upward bias and coupled with higher levels in US markets, probability for upward breakout is higher.
In today's trading, with an aggressive view Nifty Future can be bought above 5135 with stop loss of 5100. On higher side it will face resistance at 5185 - 5225 and 5250.
One can sell Nifty Future below 5070 with stop loss of 5105. On lower levels it will find support at 5045 - 5000 and 4950.
Put Call Ratio of Index Options declined to 0.98 from yesterday's level of 1.07 and thereby confirming upward bias.
Please do not trade with out STOP LOSS.
With Best Wishes,
Ketan Asher.
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