NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In the initial phase of today's trading, Nifty Future maintained downward bias and went down to make the day's low of 4592 and bounced back after taking support on the median line of the Andrew's Pitchfork on 30 min chart. At the day's end, Nifty future closed the day at 4648 with EOD candle having a long lower shadow - which augurs well for tomorrow.
For tomorrow, one can consider going long with stop loss of 4620. On the higher side, Nifty Future will find resistance at 4690 - 4725 and 4765. Fresh short position may be considered below 4620 with stop loss of 4660. On the down side, it will find support at 4590 and 4540.
Considering the up move in European markets at the time of writing, we too can expect Nifty Future testing the levels of 4725.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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