NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's opening session, the strength displayed in yesterday's closing session was absent. Right through the day, Nifty Future made lower top and lower bottom on 30 min chart, except in last one hour when there was a small pull back. Nifty Future made a low of 5240 and closed 5266.
Tomorrow, short position should be taken with 5300 as Stop Loss. On lower levels it will find support at 5210 and strong support at 5155. Considering weakness in US markets we may also have weak opening, but considering that its the last day of the month we may have a smart pull back as well.
Buying should be considered at lower levels of 5175 or there about with stop loss of 5150.
As can be observed on the EOD chart, we continue to remain within the ellipse being shown for some days now. Those who have sold at higher levels, will get good opportunity to buy at lower levels, which can be commenced around 5100 levels.
Interestingly, put call ratio of index options decreased to 1.11 as against 1.26 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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