NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
After not so strong opening, Nifty Future made an attempt to move up but could not go beyond 4792. In the second session it gave up all the gains and made the day's low of 4740. Overall a narrow range and a boring day. It is important to note that Nifty Future is not able to cross 4800 leave alone the key resistance of 4835.
At the time of writing this post, Europe and US markets are trading weak. This may influence our markets too and we can trade below 4735 tomorrow. At this level one can consider going short with stop loss of 4770. On the down side, Nifty Future will find support at 4685 and strong support at 4635. If the level of 4635 is achieved, it will also fill the gap left earlier. We can expect a bounce from this level and hence one can consider going long with stop loss of 4600. Do remember that tomorrow being Friday it is important to note at what level Nifty Future manages to close.
Strength will now emerge only when Nifty Future crosses 4810.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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