NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's muhurat trading, Nifty Future made a new high at 6349 and closed at 6325. However, BSE Sensex could not achieve similar milestone.
The close near the high of the week does augur well for the market, but with 6400 being a major hurdle as shown on the weekly chart yesterday, I do not see merit in going long at such high levels.
Instead, one can consider going short below 6300 with 6350 as stop loss. On the down side, it will find support at 6280 - 6250 and 6220. Weakness accelerates only below 6200, hence one will have to be quick in taking profits on the short side trades.
Put Call Ratio of Index Options increased to 1.38 as against 1.10 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
Words of Wisdom
Do you know why a Car's WINDSHIELD is so large & the Rear view Mirror is so small?
Because our PAST is not as important as our FUTURE.
Look Ahead and Move on.
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