NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In today's trading, Nifty Future continued its up move and end the day with higher top / higher bottom. During the day, it made low of 4720 and high of 4804 near the end of the day. It closed the day at 4788. From the 30 min chart, you will observe that Trend Line (in green) has provided the resistance. Similarly on the EOD chart, you will observe that median line has provided the resistance.
Considering the number of times Nifty Future has found resistance near today's high, there is a possibility that Nifty Future may once again test the lower levels. One can consider going short with stop loss of 4810. On the down side, fall will accelerate below 4750. The support exists at 4720 and 4685. It is only on the break of 4685, that one needs to doubt the sustainability of the current up move. I for one would expect this level to hold and one can consider going long. On the higher side, it will find resistance at 4750 and 4800.
As US & European markets are closed today, we have one thing less to worry about tomorrow morning.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
PS: As I will be on holiday for the rest of the week, there will be no post for the remainder of the week. Regular posts will start from the weekend on 31st Dec.
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