NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
After a weak opening, Nifty Future went down to make day's low of 4705 and thereafter saw a bounce and made the day's high of 4778 and closed the day at 4752. I will not like to miss theis opportunity to draw your attention to the fact that today's low of 4705 is very close to the monthly/annual mid point of 4707 given in the TP Grid and gave a good trade to those who are following this method. The long lower shadow on the EOD chart does suggest positive bias for tomorrow.
As a matter of abundant caution, I would suggest going long above today's high of 4778 with stop loss of 4740. In the unlikely event of Nifty Future opening weak, one can consider going short at lower levels, with stop loss of 4685. On the higher side, it will find resistance at 4835 and 4920.
Considering my positive bias, I would not advise going short unless Nifty Future falls below 4685. On the down side, it will find support at 4635.
With result season starting with Infosys on 12th, I do remain optimistic to see the levels of 4920 and 5050, over the next few days.
With result season starting with Infosys on 12th, I do remain optimistic to see the levels of 4920 and 5050, over the next few days.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
No comments:
Post a Comment