NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE BANK NIFTY
High Low Median High Low Median
52 Week 6318 4532 5425 12885 8141 10513
2010 6318 4667 5493 12885 8141 10513
Oct 2010 6318 6050 6184 12885 12370 12628
W E 15.10.2010 6318 6083 6200 12885 12423 12654
To enable the readers to implement "Importance of 50% Level........." I will be giving the above information daily. Please rework the median level, if High/Low changes during the day.
Hope many readers will take advantage of this information - to be on the right side of the market. Feedback always welcome.
NIFTY FUTURE:
As expected, Nifty Future opened with a gap to make a new high of 6318, but could not sustain beyond the first 30 min. There after it spent lot of time around 6255 levels and in the last hour broke the level of 6250 and fell sharply to make a low of 6181 and closed the day at 6198. In terms of Candlestick charts, today's candle is known as a 'Dark Cloud Cover" - suggesting bearishness below today' s low.
By the time we start trading tomorrow, we will have Infosys results out and the market action will be guided by the same.
Tomorrow, one can consider going short below, 6170 with a stop loss of 6205. On the down side Nifty Future will find support of trend line at 6140. If this level is broken, we can expect the start of 'healthy correction'. Further down we will have support at 6125 and 6070. Tomorrow is the last day of the week and any close below 6180 should be considered weak signal for the next week. Hope you recall my weekly post wherein I had mentioned that we are in the 144th week from the last top.
It is best to avoid long positions at least till we see 6000 levels.
Please remember, a lot depends on what Infosys delivers tomorrow.
Put Call Ratio of Index Options increased to 1.05 as against 0,96 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: Please see the DOW chart. If you allow for yesterday's spike, it remains within the Rising Wedge - a cause for concern.
No comments:
Post a Comment