NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
After a weak opening, Nifty Future remained listless till the RBI policy was announced. In view of the policy turning out as expected, markets saw a sharp up move (high of 5459), only to fall again in the 2nd session to make the day's low of 5393 and closed at 5402. The fact that Nifty Future fell once again after the pull back post RBI announcement, speaks for the inherent weakness of the market - led by Reliance, Infosys, TCS etc.
From today's close, it does look that we should test 5365 level in the coming days. For tomorrow, fresh short position may be considered only below 5390 with a stop loss of 5435. On the down side, it will find support at 5365.
On the higher side, cross of 5435 should be considered as the first sign of market bottoming out. However, to gain strength, it will have to cross 5470. This should also be the stop loss for short position for Nifty Future.
Put Call Ratio of Index Options remained unchanged at 0.89.
Put Call Ratio of Index Options remained unchanged at 0.89.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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