NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading Nifty Future remained weak and the day's High & Low were 5515 and 5413. It closed the day at 5460 and the day's candle appears like a doji. As can be seen on the EOD chart, the day's low was on the trend line and also above 5400 that led to some sort of a recovery by the end of the day.
For tomorrow, short position may be taken with a stop loss of 5500. On the break of 5420, it will take support at 5375. As is being mentioned for some time now, break of 5375 will make Nifty Future very weak and hence long positions should be avoided till such time there is an indication of stability. Further down, 5300 and 5260 will provide support.
Considering the weakness in World markets, it is best to avoid fresh long positions for now.
Put Call Ratio of Index Options increased marginally to 1.13 as against 1.07 on the previous trading day.
With Best Wishes,
Ketan Asher.
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