NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future opened with a gap and made a high of 6207 but thereafter maintained a downward bias and filled up the gap and in the last one hour made a low of 6175 and closed the day at 6182. Once again the day saw narrow movement of 32 points only.
In today's trading, Nifty Future opened with a gap and made a high of 6207 but thereafter maintained a downward bias and filled up the gap and in the last one hour made a low of 6175 and closed the day at 6182. Once again the day saw narrow movement of 32 points only.
Considering sharp up move in US markets at the time of writing, it is expected that we should see firm opening. However, I would like to remind that 6240 could be provide strong resistance.
Moreover, there is a divergence on the weekly chart which does not augur well for the market. In view of the same, I would not advise fresh long positions.
Fresh short positions should be considered only below 6175 with stop loss of 6210. On the down side 6100 could provide support as there is a gap to be filled. Weakness will accelerate now only below 6100 (please see the trend line on the EOD chart).
Put Call Ratio of Index Options decreased to 0.96 as against 1.29 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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