NIFTY FUTURE 30 min / NIFTY FUTURE EOD
NIFTY FUTURE:
On the back of strong US Markets, Nifty Future opened with a gap to make a New High, but thereafter remained in 32 points narrow range for the whole day. There is a divergence on the 30 min charts, indicating lack of strength in the up move. With Reliance not showing strength, the up move remains unconvincing.
While EOD candle does not indicate any weakness and hence going short is not advisable until Nifty Future goes below 5200. Below this level one can go short with Stop Loss of 5235. On down side it will find support @ 5170 and 5150.
On higher side it will have resistance @ 5330 and 5375. I have not suggested buy as i am not convinced about the up move, however one can always consider the above points for reference.
Put Call Ratio of Index Options remained unchanged @ 1.27.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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