NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
As expected, Nifty Future did end the week (closed at 6037)on a firm note, thus suggesting firm opening for Monday. We are now heading for end of the month next Friday. Considering the weekly close, we can expect Nifty Future to make an attempt to give a strong close for the month too, but as mentioned in this weeks post we have to be ready for continuation of the down side even after going up to 6215.
Bank Nifty needs to remain above 11655 to show strength. One can consider going long in SBI above 2800 with stop loss of 2750.
For tomorrow, one can consider going long above 6050 with stop loss of 6025. On the higher side, it will face resistance at 6100 and major hurdle at 6125-6140 region.
Short position may be considered below 6000 with stop loss of 6050. On the down side, it will find support at 5970 - 5940.
Put Call Ratio of Index Options decreased to 1.03 as against 1.09 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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