NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
After a firm opening today, Nifty Future could not sustain at higher levels and remained weak for the better part of the day. As it did not break 5800 levels, it made failed efforts at lower levels to go up. During the day Nifty Future made high of 5905 and low of 5820. It finally closed weak at 5837.
Considering that tomorrow is FNO settlement day, higher volatility should be expected. As Nifty Future did not break 5800 levels today, one can go long with strict stop loss of 5800. On the higher side, it will find resistance at 5890 and 5920. One should not remain short above 5920/5940 as the next resistance will be at 6000.
Short positions may be considered below 5800 with stop loss of 5840. On the down side, it will find support at 5760 and 5700. Considering the strength shown by US markets, it is unlikely that we will see Nifty Future trading below 5800.
Put Call Ratio of Index Options decreased to 0.83 as against 0.96 on the previous day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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