NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
Once again a narrow range day and has also formed lower top and lower bottom, suggesting weakness. Tomorrow being the FNO settlement day, volatility could be higher. In the 30 min chart it is within a small triangle. Please remeber that tomorrow is also last day of the month and unless market falls drastically - which is unlikely, the monthly candle doesn't look bearish.
For tomorrow, one can go short below 5145 with stop loss of 5175. On lower side it will find support @ 5120 and 5080.
One can buy Nifty Future above 5185 with Stop Loss of 5145. On higher side it will find resistance at 5225 and 5300.
Put Call Ratio of Index Options remained @ 1.06 as against yesterday's level of 1.05.
Do remember that its a FNO settlement day and hence volatility will be high, so please do not forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
P.S. : As we will be completing the first decade of the New Millennium, i plan to post some statistics which may be helpful to understand the returns from Stock Market. Do visit once you settle down after the New year Celebrations.
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