NIFTY FUTURE 30 MIN/NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading Nifty Future remained sideways through out the day and the intra day fall recovered by the end of the day to close the day/week @ 6017. It should be noted that even for the 2nd day, Nifty Future could not cross the mid point level of 6038. If it manages to clear this level tomorrow, it can take Nifty Future to the next strong resistance at 6100 due to multiple reasons shown on the EOD chart.
For tomorrow, fresh long position should be considered above 6050 with stop loss of 6000. On the higher side, it will face strong resistance at 6100 and hence it will be better to close long positions in Nifty Future as well as front line stocks. At the first weakness in hourly/30 min chart, one can consider going short with stop loss of 6125 or sell 6100/6200 call option, depending on the risk profile.
In case of weak opening (looks very unlikely), one can consider going short, below 5965 with stop loss of 6000. On the downside, it will find support at 5940 - 5910 and 5875.
Put Call Ratio of Index Options remained almost same at 1.26 as against 1.23 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment