NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In early trades, Nifty Future made a high of 5235 and remained weak and once again made a high of 5238. In the second half of the day it broke the much awaited level of 5200 and made a low of 5128 and closed at 5141 - near the low of the day, suggesting weak opening for tomorrow.
One can consider going short tomorrow, with stop loss of 5170. On downside it will find support at 5030 and thereafter major support at 4940. At this level Nifty Future will also find support of 200 DMA. One can consider going long at this level with stop loss of 4920.
The positive feature of today's trading is that though Nifty Future remained weak, Reliance has not broken previous day's low. Moreover, tomorrow also happens to be an important day as per Gann's seasonal time period.
Put Call Ratio of Index Options decreased to 0.94 as against 1.05 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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