NIFTY FUTURE 30 MIN /NIFTY FUTURE EOD
NIFTY FUTURE:
in today's trading Nifty Future opened firm and in last two hours gained momentum to make a high of 5218 and closed at 5204. As anticipated Reliance made this big move possible. We are now close to the next major hurdle at 5225.
For tomorrow, we have to see whether there is enough momentum to cross 5225 in the first attempt or it will act as a hurdle. On higher level 5260 and 5300 will be the next resistance levels. Existing long positions should now be trailed with 5165 as stop loss.
It is not advisable to remain short above 5225. Fresh short position may be considered only below 5165.
Put Call Ratio of Index Options increased to 1.16 as against 1.03 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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