NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In Friday's trading, Nifty Future opened weak and made a new low of 4976 and remained weak/sideways throughout the day. Though the EOD Candle suggests it to be "Doji Star", only if tomorrow Nifty Future remains above 5040. This looks little difficult, in view of the continued weakness in US markets. However, tomorrow's close above 5040 should be considered a big positive for long trades.
Tomorrow in early trades, one can consider going short below 5000 with stop loss of 5040. On down side, it will find support at 4975 - 4945 and 4920. At these levels one can consider going long in Futures with Stop loss of 4900 or at least buy 5000 or 5100 call option for a pull back rally.
On the higher side one can consider going long only above 5040 with stop loss of 5000. It will have major resistance at 5110 and 5165.
Put Call Ratio of Index Options remained almost unchanged at 1.06 as against 1.02 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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