NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In Friday's trading, Nifty Future took support at 5361 and bounced back to close the day/week at 5380.
As stated in the Weekly post, I expect Nifty Future to bounce from this level. Hence I would advise long position above 5400 with stop loss of 5375. On the higher side, it will find resistance at 5420 -5450- 5470 and 5500. While the up move may not be that smooth and will gather momentum only above 5500. It it manages to cross 5500, it will once again face major hurdle at 5600.
Considering my expectation for a bounce, I would not advise fresh short positions.
Put Call Ratio of Index Options decreased to 0.80 as against 0.89 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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