NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading , Nifty Future opened with a gap and made a high of 5218 but could not sustain the gains in the second half of the day and Nifty Future filled the gap and made a low of 5165 and closed at 5178. Though the EOD candle is not very encouraging for tomorrow, i would not suggest going short at these levels.
In tomorrow's trade Nifty future could go down to 5135 and bounce back, hence it is advisable to go long at 5135 with a stop loss of 5100. On higher side it will find resistance at 5225 and 5300 thereafter.
Nifty Future will get weak below 5110 and weakness will accelerate below 5080.
I would like to add that tomorrow being the last trading day of the week it is important to have a close above 5225 to see the continuation of the rally in the next week. Close below 5080 will indicate weakness to continue next week.
Put Call Ratio of Index Options remained almost unchanged at 1.01 as against 1.02 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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