NIFTY FUTURE 30 MIN NIFTY FUTURE EOD
NIFTY FUTURE:
On Friday Nifty (spot) made a new 52 week High but Nifty Future could not register a new high as it was trading on discount. Whatever this type of anomaly may mean, the market gave up the gains immdeiately after good IIP numbers were announced. Another notable feature for Friday's trading was that MACD which was flat for the past few days has broken downwards, indicating weakness in the coming days. On the EOD chart attached i have shown a triangle which too indicates some decisive action in the coming week.
On Monday, one can go short with stop loss of 5170, in case the market opens near Friday's closing levels. On lower side, it will find support near 5080 - 5040 - 5000 and 4950.
In view of the steep fall on Friday, it is better not to make any fresh buying. Buying 5000 Put Option can be considered as a safe bet as the risk is predefined.
Put Call Ratio of Index Options increased to 1.08 from previous day's level of 0.98.
Please do not trade without Stop Loss.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment