NIFTY FUTURE WEEKLY
Last week was the 5th week with higher top and higher bottom. Though the market did come down on Friday, the net result on the weekly chart is a doji with little long lower shadow suggesting positive bias. During the week, Nifty Future traded in 147 point range (High 5452 & Low 5305) - little less aggressive than the previous weeks.
On the weekly chart 5450 continues to remain a hurdle. On the down side, break of 5300 will take Nifty Future down to 5225. Though monthly and weekly chart continue to show strength, the weakness is apparent on the 30 min chart and the same is dealt with in my daily post.
In the event Nifty Future breaks 5450, it makes the way clear for Nifty Future to test 5725 subject to hurdle at 5500.
If any weakness has to manifest - next week seems to be cruicial, as FNO settlement is scheduled on the 8th trading day from tomorrow.
In view of the high volatility, please do not trade without STOP LOSS.
Ketan Asher.
No comments:
Post a Comment