NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In today's trading, Nifty Future opened firm, but failed to cross yesterday's high. Thereafter, it went down to make the day's low of 5491 and bounced back once again and made one more failed attempt to cross yesterday's high. Nonetheless, it closed firm at 5549. The EOD candle indicates further bullishness as it has long lower shadow. Please refer to the 30 min chart to understand why Nifty Future faced strong resistance for yesterday & today (and if possible read the write-up "IMPORTANCE OF 50%....)
For tomorrow, long position may be considered once Nifty Future trades above 5559. I had mentioned in today's post to buy 5600 CE available today between Rs. 10-15. I am sure once NIfty Future crosses 5600, you will have nothing to regret.
Once 5600 is crossed we have resistance at 5645 - 5675 -5700 & 5765. I am sure we have seen on the last two days, what Nifty Future can do, once it is bullish and when lot of shorts have been trapped. After all we have FNO settlement scheduled for Thursday and just 2 trading sessions to go. Please do not remain short above 5600.
Please do not go short unless Nifty Future trades below 5500 (which looks unlikely). As regards, going short on the higher side - please avoid at least till we are done with the FNO settlement.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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