NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
And finally Nifty Future had a good close at 4910. When in the first session which was quite volatile, Nifty Future did not break the previous low of 4801, it confirmed my view that a bounce was likely. The day's high was at 4922 and low was at 4816. The best part of today's trading was that breadth of the market remianed positive and the close has been near the high of the day - suggesting firm opening tomorrow.
For tomorrow, one can consider going long with stop loss of 4870. On the higher side, it will find resistance at 4950 and strong resistance at 5025 level. It is quite likely that Nifty Future will retrace significantly from this level and hence caution is advised. Moreover, it must be understood at this stage that this is just a pull back after consistent fall of over 900 points in about 2 weeks.
Put Call Ratio of Index Options decreased to 0.91 as against 1.04 on the previous trading day.
As we approach the settlement day, volatile can only increase - hence trade with caution and of course, don't forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment