NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
As expected, Nifty Future opened with a Gap and made a new high of 6093 but could not sustain at higher levels and gave up all the gains to fill up the gap left in the opening session and made a low of 6043 and closed weak at 6054. As such, the enthusiasm of US markets going up last Friday did not last for long.
For tomorrow, if Nifty Future goes below 6040 - it may create some anxiety, but in view of the sharp rise in a short time, one should be ready for a fall up to 5975, where Nifty Future will find Trend line support. One can consider going short below 6040 with a stop loss of 6070. on down side it will find support at 5975.
Fresh buying should be considered only above 6070 with stop loss of 6040. On the higher side it will find resistance at 6115 and major resistance at 6170.
Put Call Ratio of Index Options decreased to 1.08 as against 1.32 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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