NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading Nifty Future faced resistance at 5169. It would be interesting to see the attached EOD chart and observe how a trend line has acted as resistance level. It is important for Nifty Future to cross this resistance and there after will face another major hurdle at 5225. On weekly chart MACD has just generated a buy signal, hence the trend should be consider up.
For tomorrow, one can buy Nifty Future with 5100 as stop loss for higher targets at 5175 and 5225. As indicated in my post for Friday, Reliance has to cross 1035 and 1055 for this really to continue and gather momentum. On lower levels 5065 can also act as a good support at which buying may be considered with 5035 as stop loss.
Put Call Ratio of Index Options decreased to 0.89 as against 0.99 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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