NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In light of weak US markets yesterday, Nifty Future opened with a gap almost at the support level of 5250 referred yesterday. It remained there for better part of the day and in last hour went down further to make a low of 5198 and closed at 5217. As long as Nifty Future remains below 5225 weakness will persist.
Tomorrow, Nifty Future may open weak and find support around 5160. One can consider going long at this level with a stop loss of 5120. On lower side it will find support around 5125. On higher side it will find resistance at 5270 and 5300.
As i expect 5125 to offer good support - at least for a bounce, i would not recommend going short at lower levels. In case of close below 5125 we have next support levels at 5040 and 4950.
Put Call Ratio of Index Options increased to 1.15 as against 1.11 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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