NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In Friday's trading, Nifty Future ended the week on a bearish note and made a low of 5720 - near to the previous low of 5703. Friday' close at 5754 is just below the 200 DMA of 5760.
For tomorrow, short position may be considered when Nifty Future trades at higher levels with stop loss of 5865. In case of a weak opening, short position may be avoided at lower levels as 5700 levels can provide support as it is mid point on the TP Grid as well as there is a Trend Line (in Blue) on the EOD chart, which will provide support. Weakness will accelerate only when Nifty Future trades below 5700. On the down side 5675 and 5600 will provide support.
Long positions may be avoided for now as RBI credit policy on 3rd will decide the future course of the market and it would be better to wait as market could get a clear direction after the Credit Policy.
Put Call Ratio of Index Options increased to 0.97 as against 0.79 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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