NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future opened firm and made a high of 6063 in the 1st hour of trade. Thereafter, it maintained downward bias for the remainder of the day to make a low of 6005 and closed at 6012. On EOD chart you will observe that Nifty Future is finding it difficult to get into the yellow shaded area. The day's close has been near the low of the day - suggesting weak open for tomorrow.
For tomorrow, short position can be taken below 6000 with stop loss of 6040. On the lower side, it will find support at 5950 and 5900. Fresh long position should be considered only if Nifty Future manages to move above 6040. In the event of a sharp fall, one can consider going long at 5900 levels (for pullback in view of FNO settlement), with stop loss of 5860.
In case of Bank Nifty Future, 11655 remains critical level to cross for further upside. Considering the FNO settlement on Thursday, it is advisable not to remain short if Bank Nifty Future moves above 11655.
Put Call Ratio of Index Options increased to 1.22 as against 1.03 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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