NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading Nifty Future opened firm and made a new high at 5265 and made a low of 5230 in the 2nd half of the day. It closed the day at 5245 and the good part of the day's trading was that for the second day Nifty Future has made higher bottom and higher top.
Tomorrow, long position should be taken with stop loss of 5200. On higher side, it will find resistance at 5275 and 5305. Please note from the EOD chart, that 5305 level will have dual importance as it is .618 retracement as well as old trend line level. It is unlikely that this level will be cleared effortlessly and hence cautious approach is advisable.
Fresh short position should be created only below 5200 with stop loss of 5235.
Put Call Ratio of Index Options increased to 1.07 as against 1.01 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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