NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
Pleased to inform you that my article titled "IMPORTANCE of 50% LEVEL......" is published in the current issue of The Educated Analyst - an e-magazine published from Australia. Please visit http://www.educatedanalyst.com/the-educated-analyst/gann-studies.
NIFTY FUTURE :
In today's trading, Nifty Future opened at yesterday's levels and after side ways movement, made a high of 6230 and in the last one hour had a sharp down move to make a low of 6134 and closed at 6147. In yesterday's post, I had shown a flag like pattern. As Nifty Future could not break out above 6248 - the same did not materialise and the market had a sharp down move.
For tomorrow, the down move will continue below 6130 and will find support at 6100. At this level, Nifty Future may find support and try a bounce. Fall below 6090 may create panic like situation and take Nifty Future to 6025. In my view, buying for a pull back should be considered around 6000 levels.
On the higher side 6165 - 6190 and 6214 will act as resistance levels and should be utilised to short with higher levles given above as a stop loss levels.
Put Call Ratio of Index Options increased to 1.00 as against 0.92 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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