NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading Nifty Future could not go above 5331 and broke yesterday's low to make a new low @ 5263 and closed near the low @ 5274. Nifty future has taken support on the Trend Line shown in the EOD chart - which to me looks like a rising wedge. Tomorrow if this trend line is broken i.e. Nifty Future goes below 5260, fall can be sharp.
For Tomorrow, fresh short position should be taken below 5260 with stop loss of 5300. On down side it will find support at 5225 and 5170.
One can consider buying near 5225, with stop loss of 5200, as Nifty Future can see a sharp pullback up to 5285 as we have also to factor the possibility of Nifty Future going up for NAV effect - it is the last trading day of financial year 2009-10.
Put Call Ratio of Index Options increased to 0.99 as against 0.88 yesterday.
Being the last trading day of the financial year, do expect higher volatility - so please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment