NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future opened firm and after initial hesitation maintained an upward bias without breaking previous day's low. While this can be expected as in few days we had gone quite low (- 7.70%) and hence pull back should be considered normal.
Tomorrow should be an important day as we are approaching 6050 and major hurdle at 6100 which is a neck line on the 30 min chart. There is a good possibility for market to continue its down move from these levels. Short position may be taken around 6100 level
with about 30 points stop loss.
with about 30 points stop loss.
In case of weak opening, short position may be taken with stop loss at 6060. On the down side, it will find support at 5940 and 5850. We are yet to achieve the pattern target of 5750.
Long positions are best avoided at higher levels and should be considered at lower levels near 5750 with suitable stop loss.
Put Call Ratio of Index Options decreased to 1.02 as against 1.07 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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