NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
As expected, Nifty Future opened with a gap, but could not cross the 4920-4940 range hurdle and made a top of 4928. During the day, it filled up the gap left in the opening by making a low of 4978 and EOD candle resulted in a doji. While bank stocks started moving up, Reliance has not been participating much. For Nifty Future to cross 4940, Reliance has to remain above 1040.
For tomorrow, it will be advisable to buy Nifty Future above 4940 with stop loss of 4900. On higher side it will find resistance at 4985 and 5010. In the event Nifty Future is not able to cross 4940, but breaks today's low of Low of 4878, one can consider buying Nifty Future at lower levels with a Stop Loss of 4800.
Those learning Technical Analysis may find it interesting to see the 30 min chart, wherein I have shown the Trend Line which acted as a Resistance today.
Put Call Ratio of Index options increased to 1.11 as against 0.87 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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