NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
After initial euphoria when Nifty Future made the day's high of 5790, it maintained downward bias throughout the day and made the day's low of 5703 and closed the day at 5725. As such, Credit Policy tomorrow remained a major concern that over shadowed the euphoria generated due to news on Osama and resulted in Bank Nifty Future falling by over 2%. The good part was that Nifty Future remained above the support level of 5700.
For tomorrow, short position may be avoided at lower levels, as there are multiple supports at 5700 - 5680 level and Nifty Future has been falling for the past 6 days. Stop loss for existing long positions may be kept at 5771.
Fresh long positions may be considered above 5771 with stop loss of 5745. On the higher side 5820 - 5900 will provide resistance.
Put Call Ratio of Index Options remained marginally lower at 0.90 as against 0.97 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment