NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, after a firm opening, Nifty Future remained choppy throughout the day and made a 50 points range - new high of 5508 & Low of 5458. It closed the day @ 5485 with the day's candle as a doji - suggesting indecisiveness.
For tomorrow, we have to consider that Nifty Future will be bullish if it crosses 5510 as many stop losses will trigger and considering that we have major resistance at 5555 - 5570 range, I would not advise taking fresh long positions, unless one is ready to take the additional risks at higher levels.
In the event, Nifty Future is not able to break the 5510 levels, one can consider going short below 5450 with stop loss of 5485. In case of a firm opening, and Nifty Future going near to the resistance level of 5555, one can consider going short, with stop loss of 5600. On the lower side, it will find support at 5420 - 5365 and 5330. If Nifty Future trades below 5365, be prepared to see Nifty Future testing the previous low of 5175.
Put Call Ratio of Index Options increased to 1.05 as against 0.99 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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