NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading Nifty Future opened at yesterday's level and made two attempts to go up but in vain. During the day, Nifty Future made a high of 6225 and low of 6169 and closed at 6183. Though, Nifty Future has made lower top and lower bottom, but the size of the candle being small, and the markets being in firm bull grip, possibility of the up move continuing can not be ruled out at this stage. Moreover, as shown on the 30 min chart, Nifty Future has taken support on the trend line and the same can hold.
For tomorrow, one should consider going short only below 6165 with a stop loss of of 6210. On the down side, Nifty Future will find support at 6125 and trend line support at 6100. Close below 6100 may accentuate the fall. Existing short positoons should be held with strict stop loss of 6215.
Long positions are best avoided.
Put Call Ratio of Index Options remained almost unchanged at 0.95 as against 0.99 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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