NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future made an attempt to go up but could not go beyond the day's high of 4915 in the first hour of trade. Thereafter, Nifty Future maintained downward bias for the rest of the day and made the day's low of 4762 and closed at 4774. Except IT sector all sectors were weak after announcement of IIP nos. which were below expectations.
For tomorrow, I would not recommend going short as we are near to the previous quarters' low of 4716. As indicated earlier, major bearishness can be expected only below this level and hence if Nifty Future takes support around this level, one can consider going long with stop loss of 4700. Alternatively, one can consider going long on the break of trend line (at 4820). On the higher side, Nifty Future will find resistance at 4850 and 4885.
Considering the volatility, it is advisable to trade in Options. Please do not trade without stop loss.
With Best Wishes,
Ketan Asher.
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