NIFTY FUTURE 30 MIN /NIFTY FUTURE EOD / NIFTY FUTURE MONTHLY
2011 CALENDAR WITH NSE TRADING HOLIDAYS UPLOADED.
HISTORY CHECK : 10/10 BULLISH CLOSE
NIFTY FUTURE:
Though DOW recovered much of the loss by the closing, we had a weak opening and in the first half, made a low of 5777 (11 points lower than yesterday). After the mid session, it made a sharp recovery (led by Banking sector) to make a high of 5915 and closed at 5887. In view of the strong close, we can expect good opening and one can consider going long with a stop loss of 5840. On the higher side, it will find resistance at 5950 and 6000. Resistance at 6000 should be a tough nut to crack - particularly with Reliance and Infosys both not taking the lead. Thereafter we have 6040 and 6100 which will act as resistance.
Short position may be taken below 5840 with a stop loss of 5880. On the downside, it will find support at 5800. It would be better to trail your position if Nifty Future goes below 5800 - which looks unlikely looking at today's candle. For the new month, Nifty should at least do 6000 and may reverse thereafter.
Put Call Ratio of Index Options decreased to 0.82 as against 0.99 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS : I have attached the Monthly chart, but have avoided making comments in this post. This has been done intentionally as it will induce the visitor to refer my noting on the chart and also see the chart to get the right impact and take an unbiased view. Whatever may be your view - its a must see and if possible keep it for future reference. Interestingly, we have 10/10 bullish close in the past 10 years. Will this time be different ? Let's keep our fingers crossed and stay tuned to the market (and not the TV channels) and don't forget to protect the trades with great care.
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