NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading Nifty Future made a top of 5247 and maintained downward bias for most of the day. It made a low of 5195 and bounced back due to trend line support. As stated yesterday, Nifty Future has such support, till about 5120, hence caution is advised on the short side.
Tomorrow if Nifty is not able to cross 5225, one can go short below 5195 with stop loss of 5230. On down side, it will find support @ 5150 and 5120.
Fresh long position should be taken only above 5250 with stop loss of 5220. On higher side it will find resistance at 5275 and 5330.
Put Call Ratio of Index Options increased to 1.16, as against 1.04 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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