NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
NIFTY FUTURE:
In today's trading, Nifty Future opened weak and to start with made a low of 4805. Thereafter, Nifty Future made a new high of 4889 - though the day's trading remained range bound and volatile. It closed the day at 4872. As mentioned yesterday, level of 4925 will provide strong resistance.
In view of quarterly results to be declared by Infosys tomorrow, much will depend on the outcome of the results. It would be better to avoid fresh long positions at higher levels. Short positions may be considered with stop loss of 4925. On the down side, it will find support at 4840 - 4800 and 4740. Fall below 4800 will be fast and take Nifty Future to 4740 - which would be a good level to initiate fresh long position with stop loss of 4715. Weak results/guidance from Infosys can make this a possibility as even the reduction in much awaited CRR cut seems to be eluding and these two events can help precipitate the market down to the level of 4740.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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