NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading Nifty Future opened with a gap but could not go above 4920 and after remaining sideways for sometime, it went down to 4849 and closed at 4857. Notable feature for today was that despite weakness during the day, Nifty Future has made higher bottom - higher top and EOD Candle is not looking bad. Reliance continues to remain the major cause for Nifty Future's weakness.
As Nifty Future has closed near the low of the day, opening session may be weak. Weakness will accelerate only below 4820 and hence buying should be considered only if Nifty is above 4850. On higher side 4920 continues to remain a major resistance and above this level it can go up to 4985 - 5010 and 5060.
One can consider going short if Nifty Future breaks the recent low of 4797 with stop loss of 4830. On downside Nifty Future can go down to 4640 although to me this looks unlikely.
Put Call Ratio of Index Options decreased to 0.91 as against 0.94 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment