NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
Friday's trading session was one more day with narrow range of just 26 points. Current phase seems to be the time of setting record, as to the lowest trading range in 6 1/2 hour session. One reason for this situation could be that neither the bulls nor the bears have good reason to push their weight on the market. In any case this phase benefits the option writers as they have not much to worry but because of lower volatility, have to contend with lower option premiums.
In view of such a narrow range there leaves nothing much to predict for Nifty Future. While i do not have the tools to predict when we will be out of this narrow range syndrome, i can only say that one can consider going long above 5275 with a stop loss of 5250. On higher side 5330 and 5375 will offer resistance.
One can consider going short below 5220 with stop loss of 5255. On lower side 5200 and 5175 will offer support.
Put Call Ratio of Index options reduced to 1.18 as against 1.38 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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