NIFTY FUTURE 30 MIN NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading Nifty Future opened firm and made a new high of 6043 in the 1st hour. Thereafter, it remained sideways and in the last one hour, made a sharp down move to make the day's low of 5977 and closed at 6000. As mentioned yesterday, Nifty Future did find resistance as it moved higher.
In view of the sharp downward moves, I will continue to advise caution at higher levels. However, as Nifty Future has made higher bottom and higher top as compared to yesterday, it can not be considered weak as yet. On the higher side it may once again find resistance at 6038 and thereafter major hurdle at 6100.
Short position may be considered below 5970 with stop loss of 6000. On the down side, it will find support at 5940 and 5900. Weakness will accelerate only below 5850.
Put Call Ratio of Index Options increased to 1.21 as against 0.98 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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