NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading Nifty Future maintained downward bias throughout the day except in the last 30 min. In the early trades, it made a high of 6169 and in the 2nd half it made a low of 6097 and had a quick bounce to close the day and the week at 6133.
Though weekly candle is negative, not much should be read in that, as a week's pause after such a big move is but natural.
With DOW closing firm for the week, we can expect to see a strong opening. Having closed below the Trend Line shown on the EOD chart, Nifty Future should find difficulty in getting back the strength. On higher side it will find resistance at 6175 and major resistance at 6225. If Nifty Future is able to cross 6225, we can expect Nifty Future to make a new high and hence short positions should be suitably protected.
Short positions should be created either below 6090 or at levels below 6225, with strict stop loss of 6250. On the down side, we can see Nifty Future go down up to 6000 levels.
Put Call Ratio of Index Options decreased to 0.94 as against 1.00 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: Please spend time to see the Dow Jones chart posted as a seperate page alongside.
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