NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty future opened weak and moved in a narrow range of 5275 and 5231. Important point to note is that it has not broken yesterday's low of 5225 (which itself is an important level for the year, being opening rate of 1.1.2010).
AsUS markets continue to remain weak, this could affect the sentiment here and we may see lower levels. However, fresh short position should be taken only below 5225 with stop loss of 5265. On the down side, it will find support at 5200 and 5155. Close below 5200 will make the market weak as it would have broken the trend line shown on the EOD chart. Next major support will be 5075.
Fresh long position should be taken above 5300 with stop loss of 5275.
Put Call Ratio of Index Option remained unchanged at 1.06.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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