Tuesday, November 2, 2010

TURNING POINTS FOR 03.11.2010


NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading Nifty Future traded in a narrow range with the day's high of 6174 and the day's low of 6128. On the 30 min chart I have shown a trend line which is acting as resistance for Nifty Future.
For tomorrow, one can consider going long with a stop loss of 6130. On higher side, it will find resistance at 6185 - 6210 and 6250.
Short position should be considered below 6130 with a stop loss of 6160. On the lower side, it will find support at 6100 and 6075.
Put Call Ratio of Index Options marginally increased to 1.13 as against 1.05 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.

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