NIFTY FUTURE EOD NIFTY FUTURE 30 MIN
NIFTY FUTURE:
In today's trading, Nifty Future steadily increased to go up to the earlier high of 5139. It closed near the high of the day, suggesting that tomorrow it should open firm and hopefully cross the earlier high of 5169.
For tomorrow, if the opening is near today's close, one can buy with stop loss of 5100. On higher side it has tough resistance @ 5165 and 5185. Close above this level can take Nifty much higher and it will be prudent not to remain short. At higher levels, Nifty Future will find resistance @ 5220.
It is better not to go short, unless Nifty trades below 5065 with Stop Loss of 5100. On down side it will find support @ 5000 & 4935.
This is the same Nifty which was waiting to go below 4800 and now is on the threshold of making a new high. In one of the post last week, i had mentioned whether we are getting ready for the last leg of the rally? Albeit late by a week, the time has come when Nifty Future is poised to take the leap. Whether one should join the party or take this opportunity to get off the bull train will largely depend on the greed quotient of each investor. Its time we check our own greed quotient.
Put Call Ratio of Index Options increased to 1.47 as against 1.18 yesterday.
With Best Wishes,
Ketan Asher.
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