NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future had a lackluster trading except for a spike to a high of 6141. The day's low was 6094 and hence technically we have to consider that Nifty Future made a lower top and lower bottom - a sign of weakness. But considering the FNO settlement just 2 days away and looking at the position of the EOD candle on the line shown in the attached chart, I would continue to be hopeful of further up move - with good possibility of Reliance providing the lead.
Accordingly. I would advise going long above 6120 with stop loss of 6090. On higher side it will find resistance at 6155 - 6190 and 6240.
Nifty Future may get weak below 6085 but will find support at 6065, hence short positions are best avoided. Instead it will be better to consider long positions with suitable stop loss.
Put Call Ratio of Index Options remained unchanged at 0.91.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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