NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading Nifty Future continued its up move, to make new high of 5344, but gave up majority of the gains to close the day at 5312. With Infosys and Reliance both showing weakness, it will be interesting to see if Nifty Future is able to continue the up move in the coming days. Once again, in spite of maintaining up move, Nifty Future is not able to cross the trend line - in Brown, shown in EOD chart. In case it manages to cross the Trend Line on the back of better US markets, it will find resistance at 5420.
For tomorrow, i will continue to advise caution for long positions. Existing long positions should be trailed with a stop loss of 5290.
One can consider going short below 5290 with stop loss of 5325. On lower side it will find support at 5260 - 5225.
Put Call Ratio of Index Options marginally decreased to 0.88 as against 0.92.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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