NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In Friday's trading, Nifty Future made a turn around after sustained fall for over 8 days. The positive part for the day's trading was that it made a higher top and higher bottom on the EOD chart after many days.
For tomorrow, it will be better to go long above 5575 with stop loss of 5550. On the higher side, it will find resistance at 5620 - 5675 and major resistance at 5700.
Short position may be considered only below 5500 with stop loss of 5535. On the lower side, 5420 and 5393 will provide support. As mentioned in the weekly update, the critical level for extreme bearishness is 5300. At lower levels, bearishness will accelerate only when 5300 is broken.
Put Call Ratio of Index Options remained almost unchanged at 0.80 as against 0.79 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment