NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trade, Nifty Future made a lower top (5174) and lower bottom (5088), but the good part was the sharp up move in the second half of the trading session and closed @ 5150 - near the high of the day. Today's candle leaves hope for continuation of the up move tomorrow.
i will continue to suggest that fresh buying should be done above 5175 with stop loss of 5140. On higher side Nifty Future will find resistance @ 5235 and major hurdle at 5300. For Nifty Future to gain strength, Reliance going above 1100 is necessary particularly when Bharati Airtel is a drag on the Nifty Future.
While weakness will accelerate below 5080, i do not expect Nifty Future to go down and hence will not recommend going short on Nifty Future.
Put Call Ratio of Index Options remained almost unchanged at 1.02 as against 1.04 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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