NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE:
In Friday's trading, Nifty Future found resistance at the 200 DMA as mentioned in my post. The day's close has been near the high for the day and hence optimism remains positive, however weakness in DOW on Friday should remain a concern.
For tomorrow, fresh long positions are best avoided unless one wants to remain long in case Nifty Future goes up to 5270. For this, 5180 can be used as a traiing stop loss.
In case of weak opening (due to weakness in Dow), one can consider going short with stop loss of 5235. On the down side, it will find support at 5165 - 5130 and 5070. Fall will accelerate below 5070 as Nifty Future would be out of Andrew's Pitchfork after many days.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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