NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading NIfty Future remained weak throughout the day, after making an effort to go up in the early trading. Nifty Future managed to make a low of 4718 and closed the day at 4749.
As being mentioned by me, we are close to the multiple support zone and I expect a bounce. The first indication of the turn around will be when Nifty Future moves above 4800 and the up move will sustain when it manages to cross 4900 - trend line on the EOD chart.
For tomorrow, one can cosider going long with stop loss of 4700. On the higher side, it will find resistance at 4800 - 4850 and 4900. I have been suggesting buying in the cash market for the past few days.
While I do expect the markets to bottom out for the short term, please do remember that next week, we have two holidays (Wednesday & Thursday) and hence cautiousness will prevail.
I would not advise going short at lower levels.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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