NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
After a steady opening, Nifty Future remained bearish but once again gathered steam to make the day's high of 5955. Thereafter, by mid session, Nifty Future once again maintained a bearish tone to make the day's low of 5873 and closed weak at 5895. Bank stocks took lot of beating (about 3%) to make a new weekly low of 11177. On the EOD chart, I have marked the 350 points range in which the Nifty Future has been moving for the past one month.
For tomorrow, fresh short position should be taken only below 5850. On the down side, it will find support at 5800 and 5725.
Long position should be taken with the stop loss of 5850. On the higher side it will find resistance at 5940 and 5985 and 6035. Please do not remain short above 5940 as tomorrow is the last trading day for the week.
Put Call Ratio of Index Options increased to 1.20 as against 1.07 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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