NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
On the back of good closing in US markets, Nifty Future opened with a gap and made a high of 5378 and remained in a narrow range during the first half of the day. In the second half we saw much awaited correction and Nifty Future made a low of 5268 and closed at 5277. Considering the close, we can expect weak opening tomorrow.
In tomorrow's trading, on break of 5250, Nifty Future will find support around 5225. I expect Nifty Future to take support around 5210 -5225 region. If it holds this level for some time. one can consider going long with stop loss of 5190. Further down, it will find support at 5170 and 5120.
On higher side it will find resistance at 5320 and will be a good level to go short with stop loss of 5255. As suggested earlier, fresh buying should be considered near 5210-5225 levels only.
Put Call Ratio of Index options is at 1.05 as against 1.01 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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