NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future opened weak and has started making lower bottom and lower top. While it has closed (5320) weak - near the low (5311) of the day, it did not fill the gap left in yesterday's opening session. Reliance continues to under perform the market. With FNO settlement just 2 days away, possibility of Nifty Future going to test 5420 levels with some help from Reliance can not be ruled out as yet.
For tomorrow, Nifty Future may open weak and fill the gap and then move up as suggested above. If this happens, one can go long above 5325 with opening sessions low as the stop loss. On higher side, it will find resistance at 5345 and 5375. While I do believe 5420 to be a hurdle, it will be better not to remain short above 5345.
One can go short below 5290 with stop loss of 5330. On lower levels, it will find support at 5260 and 5220.
Put Call Ratio of Index Options increased marginally to 1.13 as against 1.07 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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