NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future opened steady, but could not sustain at higher levels and made a low of 6282 and remained sideways to close at 6297. Reliance provided the support to Nifty Future from falling too fast. The days close is near the low of the day, suggesting weak opening for tomorrow.
For tomorrow, short positions may be taken with stop loss of 6340. On the lower side, it will find support at 6250 and strong support at 6200. I would continue to suggest that please avoid long positions for now and simultaneously caution that short trades too may be squared off at the support levels.
To those who are following TP Grid, I would like to draw their attention to the significant change in the Mid point level for 52 Weeks and Annual 2010, which today stands increased to 5508. This indicates significant change for the market as and when Nifty Future moves below 5500 level. Incidentally, this level was sometime back referred to as a strong resistance level.
Put Call Ratio of Index Options marginally decreased to 1.17 as against 1.38 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes.
Ketan Asher.
Words of Wisdom
All things in life are temporary.
If going well, enjoy it, they will not last forever.
If going wrong, don't worry, they can't last long either.
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