NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
After a firm opening, Nifty Future remained weak till the mid session and made a low of 6262. Thereafter, it made a sharp up move to make a high of 6347 and closed firm at 6333 - near the high of the day. Thus, firm opening tomorrow is almost certain.
Tomorrow, one can consider going long above 6360 with a strict stop loss of 6330. On higher side, it will find major resistance at 6400. In the event, Nifty Future does come down after making a top around 6400, one can consider going short once Nifty Future starts trading below 6360 with stop loss just above the day's top. I am indicating bearishness, in view of divergence on the EOD chart. As shown on the 30 min chart the weakness will accelerate only when the trend line is broken.
Put Call Ratio of Index Options decreased to 1.07 as against 1.17 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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