NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
On the back of positive close in US markets, Nifty Future opened strong and made a top at 4950, where it found resistance at the trend line. As the pull back after the resistance was not significant and Nifty Future closed at 4926, continuation of the up move after clearing the trend line can be expected for tomorrow.
Existing long positions can be trailed with stop loss of 4875. Fresh long position should be taken only after the trend line is crossed at 4950, with stop loss of 4920. On higher side, it will find resistance at 4975 - 5010 and major resistance at 5035.
Nifty future can be sold below 4875, with stop loss of 4900 and it will find support at 4830. Below 4830 bearishness will accelerate.
Put Call Ratio of Index Options reduced to 0.99 as against 1.03 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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