NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD
NIFTY FUTURE :
In Friday's trading, Nifty Future opened with 5700 as Open = High, but remained weak thereafter. It closed the day at 5590 with days' low as 5565. Nifty Future continues to remain just below the median line (but inside) of the Andrew's Pitchfork on the 30 min chart.
As mentioned in the weekly post, only indication for impending correction comes from the lower shifting of Nifty Future position to Mar series though it can change over the next 3 days of trading.
For tomorrow, one can consider going short below 5590 with stop loss of 5625. On the down side, Nifty Future will find support at 5530 and 5450.
Considering the up move in US/European markets, we too may see up move which can take Nifty Future back to 5675 levels. This can be used to go short with stop loss of 5725.
Please do not trade without STOP LOSS.
With Best Wishes,
Ketan Asher.
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