NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading Nifty Future opened weak and went down to make a low of 5105 and in an otherwise narrow range (and boring day) closed (5132) near the high (5136) of the day. The positive feature for the day was that Nifty Future did not go below 5100 indicated yesterday and Reliance made an effort to cross the hurdle at 1035. Lets hope that it is able to provide the necessary impetus for Nifty Future to go above 5180.
As Nifty Future has started making lower top and lower bottom, one needs to be very careful in protecting long positions with a suitable stop loss. For Nifty Future, i would suggest 5090 as stop loss for long positions. Fresh buying in Nifty Future should be avoided till it is able to close above 5180. It will be better to consider buying Nifty Future near 5040 with stop loss of 5000.
Put Call Ratio of Index Options increased to 1.03 as against 0.89 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: I would like to draw the attention of readers to column B of the TP Grid. Having completed 52 weeks, you will find the low going up almost every week - starting this week, as the market had consistently gone up during that period. Due to this the mid point will also go up and so long as the current Nifty Future or any scrip is above that mid point we can consider the positive bias and vice versa.
While on this subject, i would like to inform those who are referring the TP Grid, that I will be posting the TP Grid only till 31.03.2010.
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