NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD NIFTY FUTURE :
After a stable opening, Nifty Future went up to make the day's high of 5971 but could not sustain at higher levels and came down to make the day's low of 5880. In the second session, Nifty Future remained in a narrow range and closed the day at 5911. After 11 day's, for the first time Nifty Future failed to make a new high but did not break previous day's low - so much for the strength. The day's candle too is a doji and hence leaving the option open for either side movement tomorrow.
On the EOD chart, you will find that Nifty Future has taken support at the trend line which suggests that the fall will accelerate below 5870. Accordingly, for tomorrow, short position may be considered below 5865 with stop loss of 5910. On the down side, it will find support at 5840 - 5760.
Long positions are best avoided until Nifty Future decisively crosses 6000 levels.
Put Call Ratio of Index Options decreased marginally to 1.08 as against 1.12 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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