NIFTY FUTURE 30 MIN . NIFTY FUTURE EOD
NIFTY FUTURE :
After a firm opening and initial hesitation, Nifty Future went up to make the days high @ 5327, but could not sustain at the higher levels and fell down suddenly but did not break the low of 5257 made in the morning session. On the intra day chart you will find the markings of 50% level of the swing which provided resistance for the day.
Considering the bearishness prevalent in the market, Nifty Future is not getting the buying support despite considerable improvement in the US/World markets. Needless to say, that I remain optimistic about the bounce and hence would not advise going short at lower levels.
For tomorrow, one can consider going long above 5300 with stop loss of 5250. On the higher side, it will find resistance at 5325 - 5355 - 5380. Nifty Future will gain momentum only above 5380.
Put Call Ratio of Index Options decreased to 0.82 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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