NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
As expecteed, Nifty Future maintianained downward bias, immediately after making the day's high of 4995. During a volatile trading session it made day's low of 4906 and closed the day at 4937. The positive feature for the day was, that it did not break the previous day's low and it left a small lower shadow to the day's candle.
For tomorrow, one can consider going short below 4900 with a stop loss of 4940. On the down side, it will find support at 4875 and strong support at 4840. Considering that tomorrwo is an FNO settlement day, we can expect Nifty Future to take support at 4840 and bounce back.
In the event, Nifty Future does take support at 4840, one can consider going long with stop loss of 4800. On the higher side, it will find resistance at 4880-4920 and 4980. Please do not remain short above 4990.
Please be prepared for an above average volatiliy and trade smaller quantities and last but not the least, don't forget to use STOP LOSS.
With Best Wishes,
Ketan Asher.
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