NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trade Nifty Future, having gone below the trend line at 5250, quickly lost another 30 points, and made a low of 5212 and closed @ 5221.
I continue to remain optimistic about market going up, mainly due to MACD getting ready to cut the trigger line on the Weekly Chart. Secondly, as evident from the EOD and 30 min charts shown above, 5176 and 5150 can provide support.
For tomorrow's trading, one can buy Nifty Future when it goes above 5250 with a stop loss of 5220. On higher side it will find resistance at 5275 and it will be advisable not to remain short above this level, as the chances of crossing 5305 will be very high.
Put Call Ratio of index Options decreased to 1.04 as aganist 1.15 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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