NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
Contrary to expectations, Nifty Future did not open weak - as such, it did not even break yesterday's low and went up to the high of 4860. However, in the last hour it gave up most of the gains to close the day at 4805 - near to yesterday's close and with long upper shadow, suggesting weakness.
For tomorrow, I would advise going short below 4800 with stop loss of 4840. On the lower side, 4730 and 4680 will provide support. Good support comes in at around 4600. With just a day left for FNO settlement we should see higher volatility but break below 4700 will accelerate weakness.
It is best to avoid fresh long position till this weekend - by which time we would be done with FNO settlement and also get the levels at which market settles down.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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