NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
TP GRID FOR 13.07.2011 IS UPLOADED.
In today's trading, Nifty Future opened with a downside Gap and made an attempt to fill the Gap in the early session but could not go beyond the day's high of 5693. After the mid-session, Nifty Future once again made a new low for the day at 5502. On the EOD chart, I have marked Andrew's Pitchfork (though unconventional) and you will find that the day's low has been exactly on the Median Line. The day's candle is having some lower shadow, which augurs well, as it suggests some buying at lower levels.
For tomorrow, one can consider going long once Nifty Future trades above 5555 level with stop loss of 5500. In case of weakness due to Global cues, one can even consider buying at around 5500 levels with a stop loss of 5470. On the higher side, it will find resistance at 5580 and 5650. Nifty Future will gain momentum above 5650.
Fresh short positions may be avoided.
Put Call Ratio of Index Options increased to 1.11 as against 0.99 yesterday.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment