NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future traded in a narrow range of 44 points (High 5378 & Low 5334) with downward bias and closed the day at 5347. On the EOD chart, Nifty Future made lower top / lower bottom indicating weakness. As Nifty Future closed near the low of the day, the weakness may continue tomorrow as even the US/Europe markets are trading in the red at the time of writing this post.
For tomorrow, one can consider going short below 5336 with stop loss of 5380. On the lower side, it will find support at 5300 and 5250. Please note that the gap will be filled only when Nifty Future Trades at 5185 and a bounce can be expected.
As regards the Index Optuin data, there has been increase in open interest in both the puts and calls with bias towards the Calls. However, considerting the weakness on the charts, I would not advise buying calls except whem Nifty Future trades around 5200 froma where bounce can be exoected.
Please do not trade without STOP LOSS.
With Best Wushes,
Ketan Asher.
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