NIFTY FUTURE 30 min / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading Nifty Future has made lower top and lower bottom, which can be taken as the first sign of weakness. Today the range was marginally better - about 50 points, but no where near 100 points which we have got used to. Weakness in Inofsys and Maruti/Tata Motors was marginally offset by Reliance.
In today's trading Nifty Future has made lower top and lower bottom, which can be taken as the first sign of weakness. Today the range was marginally better - about 50 points, but no where near 100 points which we have got used to. Weakness in Inofsys and Maruti/Tata Motors was marginally offset by Reliance.
For tomorrow's trading, one can go short with 5305 as Stop Loss. Nifty Future will find support @ 5225 and 5170. If this level is broken we should be ready to see the levels of 5075.
It will be advisable to avoid buying at these levels and wait for some correction to take place before buying is considered. Like a sprinter, market may want to see some lower levels whereby it can gather steam to scale new heights with strength, as we approach Budget time.
Put Call Ratio of Index Options increased to 1.27 as against 1.12 yesterday.
Please do not trade without STOP LOSS, as the fight between the bulls and bears intensifies.
With Best Wishes,
Ketan Asher.
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