NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future opened weak and filled up the gap left on Monday's opening session. After moving sideways in the first half, Nifty Future moved up to make a high of 5344 and closed at 5334. As such, FMCG index made a new all time high during the day.
Those academically inclined must see 30 min chart to know why Nifty Future stopped at high of 5344 - as against 5345 mentioned in yesterday's post. Reliance continues to be weak and thus not supporting the Nifty Future's up move.
For tomorrow, long position should be taken only above 5345 with stop loss of 5320. On higher side it will find resistance at 5375 and 5420. If Reliance goes below 1025, Nifty Future may find it difficult to move above 5345.
Short positions should be taken only below 5290 with stop loss of 5330. On lower side it will find support at 5265 and major support at 5210.
Put Call Ratio of Index Options remains almost unchanged at 1.09 as against 1.13 yesterday.
Tomorrow being the FNO settlement day, be prepared for above average volatility and hence it is important to us STOP LOSS.
With Best Wishes,
Ketan Asher.
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