NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future opened at yesterday's level and remained in narrow range around the upper channel indicated on the EOD chart. In the second half, it dropped to make a low of 4934 and closed near the low of the day at 4944.
In tomorrow's trading Nifty may find support at 4895 and see a bounce which should be sold with a stop loss of 5000. In the event 4865 is broken, we should be ready for a new low. It will find support @ 4800 - 4725 and finally 4652 which is currently a mid point of 52 week Hi/Lo as shown on the EOD chart and also a logical point for market to bottom out as it would have also formed a double bottom very close to 4667done on 8th Feb. It would be better to buy 5000 Strike Price Call Option at the support levels indicated above.
Put Call Ratio of Index Options almost remained unchanged at 1.22 as against 1.21 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment