NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
While the short session on Saturday is really not indicative due to lower participation, Nifty Future did not go below previous day's low. As such it has closed near the high of the day, suggesting firm opening on Monday.
For tomorrow's trading, on can buy Nifty Future above 4760 with stop loss of 4720. on higher side, it will find resistance at 4790 and major resistance at 4820 to 4840. Nifty future will get strength only above 4850 and hence it will be better not to remain short above this level.
Until we close above 4850, the possibility of making one more low near 4600 remains open. As i maintain positive bias, i prefer to buy at support levels and sell at resistance levels, and not suggested going short at higher levels. Even for individual scrips, it is better to continue delivery based buying on declines, in anticipation of pre budget rally.
Put Call Ratio of Index options declined to 1.03 as against 1.13 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: In view of system problem in reading Saturday data, there will be no update for TP Grid, on Monday.
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