NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future displayed weakness right from the beginning and after the mid session, saw a major fall as it came out of the wedge discussed yesterday. But for some strength displayed by Infosys, the fall would have been sharper. At the end of the day, Nifty Future closed outside the wedge - suggesting further weakness.
Considering today's close, we can expect weak opening tomorrow. One can go short around 5330 with a stop loss of 5365. On lower side, Nifty Future will find support at 5250 and major support near 5220 levels. If this support holds for sometime, one can either buy 5300 Call Option or buy Future and put option as a hedge. Buying naked future should be avoided at this stage. Moreover, those who have sold stock at higher levels, should consider replacing the same, as we will be entering results season beginning next week.
Put Call Ratio of Index options decreased to 1.23 as against 1.36 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
With Best Wishes,
Ketan Asher.
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