Please down load 2010 calendar with
NSE Trading Holidays marked on it.
NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
Today's trading range, probably was the narrowest range in the recent times and thus gave very few trading opportunities in Nifty Future.
As expected, on the back of strong US markets, Nifty Future opened firm but remained within 30 points range for the whole day and closed firm - near the high of the day, mainly due to the short covering by the intra day traders, who were short during the day.
We may see firm opening tomorrow, but there are many hurdles on the way up, with 5050 being the toughest one. I would continue to advise going short at higher levels up to 5050 with a stop loss of 5075. It is quite likely that Nifty Future may come up to the Trend Line (in Blue) shown in EOD chart attached herewith. There after the down move may continue. Once 4937 is broken, it will find support @ 4900 and 4865.
I would like to add that Dow is still looking firm as it remains above the trend line, which will be broken once the Dow slides below 10300. This weakness may then trigger continuation of our downward movement.
Put Call Ratio of Index Options increased to 0.95 as against 0.81 on the previous day.
Please do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
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