NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future saw a weak opening as Reliance opened weak. During the day, Nifty Future saw a narrow range of 50 points with a high of 5925 and low of 5876 and closed at 5887. The significant point was that it made a lower top and lower bottom and closed near the low of the day but managed to remain above the channel line on the weekly chart which is now at 5875 (for last week it was at 5850).
For tomorrow, break below today's low of 5875 would take us back below the channel line on the weekly chart. One can consider going short below 5850 with stop loss of 5880. On the down side, it will find support at 5815 and 5760.
Nifty Future will gain strength above 5940 and hence this should be considered as stop loss for short positions.
Put Call Ratio of Index Options decreased to 1.07 as against 1.21 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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