NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
Last week, Nifty Future closed near the low of the week - suggesting weak opening for tomorrow.
Long positions may be considered only when Nifty Future trades above 5900. On the higher side, it will find resistance at 5920 & 5940. It is advisable not to remain short above 5940, as it could go up to 6000.
Short positions may be considered below 5830 with stop loss of 5860. On the down side, it will find support at 5800 - 5750. Please note that both these levels are important as Nifty Future would be coming out of channels on weekly and monthly respectively. Thereafter, 5660 will be a key support level. As we have only 3 trading days,those holding Call Options must be careful as they have an inherent disadvantage due to fewer working days.
Put Call Ratio of Index Options remained almost unchanged at 1.11 as against 1.13 on the previous trading day.
I have made some markings on the weekly chart which indicates that next week could turn out to be an important one, hence please do not forget to use the STOP LOSS.
With Best Wishes,
Ketan Asher.
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