NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
And one more narrow range / boring day. Though Bank Nifty Future did go below yesterday's low, Nifty Future did not do so and it does indicate some strength. L&T, Reliance and ONGC did help index from going down. During the day, Nifty Future made a high of 5452, low of 5404 and closed at 5425 - just at the same level of yesterday.
Considering today's movement, it does indicate that we should see a positive move tomorrow - after all its Friday (last day of the week) and if the previous 3 weeks are any indication, we should see an up move tomorrow. It will be better to go long above 5440 with a stop loss of 5400. On the higher side, it will find resistance at 5475-5480 level. Once this level is broken, we can expect a fast up move to the next resistance level of 5535 and 5565.
Short positions should be avoided at lower levels.
Put Call Ratio of Index Options decreased to 0.76 as against 0.88 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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