NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
After a long weekend, we have markets opening tomorrow to weak results announced by SBI and the beginning of Anna Hazare's movement against Corruption. While this movement by itself may not have much to do with the markets, but if not handled deftly by the Govt. and if things go out of hand, it can certainly have implications on an already weak market. The good part in favor of the bulls is the strength shown by US markets for two trading sessions when we were closed.
On Friday last, Nifty Future closed at 5080. The weak results announced by SBI may affect the sentiments in the opening session and can take markets down to 5000 levels. Long positions may be taken, at lower levels in the event previous low of 4951 is not broken.
In the unlikely event of markets showing stregth in the opening session, momentum will return only when Nifty Future trades above 5180 - thats nearly 100 points away. I would not advise going long except at the lower levels that too with stop loss of 4950.
Put Call Ratio of Index Options decreased to 0.98 as against 1.27 on the previous trading day.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment