NIFTY FUTURE EOD / NIFTY FYTTYRE 30 MIN
NIFTY FUTURE:
In Monday's trading, Nifty Future went down to the day's low of 5022 and bounced back to the day's high of 5085 and closed the day at 5066. It is important to note that Nifty Future did not clear the previous high of 5094 and consequently the trend line remains a hurdle.
For tomorrow, I would recommend going short below 5050 with stop loss of 5100. On the down side, it will find support at 5000 and 4920. I would not reommend going long in a hurry, in view of recent downgrades by S & P and important announcements expected from Europe and not to speak of our own problems. If Nifty Future falls below 4865, it can fall further to test the previous low near 4600.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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