NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
Although Nifty Future opened firm this morning, and made a high of 5412 in the early trade - it could not cross yesterdays high. Thereafter, it remained quite listless (and boring) for the better part of the day. In absence of any buying support, it went down in the second half and ended the day on a bearish note by making a low of 5350 and closed at 5364. The good part of the day's trading is that the close has been on the the trend line and has also not gone below 5340 level indicated yesterday. This gives me some hope - though getting faint by the day, that Nifty Future may bounce back to new highs as we approach the Gann turn date of 23rd July.
For tomorrow, I would suggest buying only above 5385 with a stop loss of 5340. on higher side, it will find resistance at 5420 and 5450.
One can consider going short if Nifty future trades below 5340 with stop loss of 5375. At lower levels, it will find support at 5300 - 5270.
Put Call Ratio of Index Options remained almost unchanged at 1.16 as against 1.19 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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