NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
Critical Levels below which, weakness will accelerate:
Level 1 - 5365 / Level 2 - 5225 / Level 3- 4800
NIFTY FUTURE :
In yesterday's trading, Nifty Future opened flat and remained sideways in the first half and made a low of 5410. As there were no negative surprises in RBI Credit policy, it went to make a high of 5459 and closed at 5435. EOD candle resulted in a doji - indicating balance between buyers and sellers.
Quarterly results of Reliance were declared after the market hours and as the results are in line with the expectations, we can expect Reliance to provide the much needed lead to the market.
For today's trading, one can go long above 5460 with stop loss of 5435. On higher side, it will find resistance at 5475 - 5515 and 5545.
As indicated yesterday, Nifty Future has taken support on the Trend Line and hence selling should be considered only below 5400. On downside, it will find support at 5350.
Put Call Ratio of Index Options remained almost unchanged at 1.17 as against 1.15 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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