NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
After a weak opening, Nifty Future made the day's low of 4731 and went up, only to retest the day's low level once again. In a surprise move, in the last hour it bounced back sharply to make the day's high of 4840 and closed the day at 4811.
For tomorrow, fresh long position should be considered above 4840 with stop loss of 4800. On the higher side, it will resistance at 4885 - 4935. Its only if 4935 is crossed, we can hope to see the hurdle at 5020 as shown on the 30 min chart.
As regards the Index Options data, there has been increase in open interest of about 11 lacs for the strike price ranging from 4900 to 5100. As against this, on the put side there has been reduction in the open interest. This too confirms the possibility of an up move. I would once again remind the readers - particularly those who are day trading, to refer to this information provided (real time) by NSE on its website.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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