NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future opened with a down side gap and remained weak throughout the day. The day's high was at 5537 and low was at 5477. You will observe on the charts that the day's low took support on the trend line drawn on the charts. Hence, break of today's low will lead to further down side tomorrow. Considering that the day's close at 5489 is near the bottom for the day - the possibility of further down side remains open.
For tomorrow, short positions may be considered below 5460 with stop loss of 5510. On the down side, 5420 and 5393 will provide support.
It is better to wait for Nifty Future to shown some signs of bottoming out before considering long positions. However, Nifty Future trading above 5555 will once again start an up move more due to short covering rather than genuine buying.
Put Call Ratio of Index Options remained almost unchanged at 0.87 as against 0.89 on the previous trading day.
Please do not trade without STOP LOSS.
Ketan Asher.
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