DUE TO TECHINCAL PROBLEMS WITH THE BLOGGER, UNABLE TO UPLOAD THE CHARTS.
NIFTY FUTURE:
Finally, in the Muhurat trading, Nifty Future decisively crossed above the 5200 level. It made high of 5257 and low of 5227 and closed at 5233.
While we were celebrating Diwali and are done with the credit policy and the FNO settlement, World markets have been rocking with DOW closing at 12209 yesterday (up over 17% from the reccent bottom).
Considering the overall feel good factor, we should open strong. One can consider going long only above 5260 with stop loss of 5220. On the higher side, it will face resistance at 5325 - 5365 and 5420. Once again today being the last day of the week, the close for Nifty Future will be an importanct factor for the coming days. On the lower side, weakness will increase only when Nifty Future breaks 5165.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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