NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
As expected Nifty Future remained weak with downward bias during the day and has started the process of forming lower top and lower bottom. As it has closed near the low of the day, tomorrow it should open weak, but since it has taken support on the trend line shown in the EOD chart, we have to see whether it takes support and goes up or continues downside move.
New fresh position should be created only below 5090 with stop loss of 5135. On down side it will find support at 5055 and 4985.
Long position may be taken if Nifty Future moves above 5135 with stop loss of 5100. on higher side it will find resistance at 5170 and 5225.
Put Call Ratio of Index Options increased to 1.18 as against 1.15 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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