NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In yesterday's trading, Nifty Future did not go below previous day's low of 5180 and made a high of 5242 and closed at 5226 though it remained below the trend line being shown for the past few days.
Tomorrow's opening session will be influenced by yesterday's high made in US markets but the same will be neutralised to some extent if US market close in the negative by day's end. Moreover, tomorrow being FNO settlement day, volatility can be expected to be higher.
It is advisable not to buy if there is a gap opening as 5250 will act as resistance. One can consider buying Nifty Future with stop loss of 5200. Nifty Future will gain momentum once it crosses 5250 as shown in 30 min chart. On higher side it will find resistance at the previous high of 5303 - 5365 and 5400.
Nifty Future will get weak only below 5180.
Put Call Ratio of Index Options increased marginally to 1.13 as against 1.07 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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