NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trade Nifty Future opened at yesterday's closing levels and tested 50% of yesterday's move to make a low of 5018 and then moved up to make a high of 5108 and closed at 5068. Today's candle is a doji which indicates that market is undecided about the direction it would take tomorrow. Considering that Reliance continues to remain weak at the close, the possibility of market once again coming out of the ellipse shown on the EOD chart cannot be ruled out.
For tomorrow's trading, one can consider going short below 5020 with stop loss of 5050. If market goes up one can go short around 5100 with stop loss of 5120. On lower side, it will find support @ 4960 - 4920 and 4850.
Put Call Ratio of Index Options increased to 1.05 as against 0.97 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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