NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future remained in a narrow range and did not go below the 5218 level indicated yesterday, thus not generating a sell signal. It closed (5254) firm near the high (5264) of the day. While EOD candle leaves hope for continuation of up move, the trend line hurdle still remains. I would urge the readers to see the EOD chart to get a clear picture.
For tomorrow, I would continue to advise caution at higher levels and feel that risk/reward ratio is against fresh long position at these levels. Existing long positions should be trailed with stop loss of 5215. One can go short below 5190 with stop loss of 5225. On down side it will find support at 5165 and 5120.
Put Call Ratio of Index Options increased to 1.21 as against 1.11 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher
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