TURNING POINTS FOR 3.12.2009

NIFTY FUTURE EOD NIFTY FUTURE 30 MIN

NIFTY FUTURE:

In today's trading Nifty Future opened firm but could not cross 5165 level for the whole day. It traded in 50 points range though out the day. Nifty Future has touched this level for the third time but could not cross this level in view of the hurdles shown on the chart. Let us hope it crosses this level tomorrow, failing which it may come down to 5075 where it can find support.

Tomorrow, one should avoid buying Nifty Future at higher levels and instead, if Nifty Future takes support at 5075 levels, one can buy with stop loss of 5040. On higher side it will find resistance at 5100 and 5165-5185 levels. On lower levels, it will find support @ 5000 - 4975 and 4930 levels.

Tomorrow selling Nifty future should be avoided and instead it will be better to buy at lower levels indicated above and sell at higher levels.

Put Call Ratio of Index Options was @ 1.29 as against 1.49 yesterday.

Please do not forget to use STOP LOSS.

With Best Wishes,

Ketan Asher.

TURNING POINTS FOR 2.12.2009

NIFTY FUTURE EOD NIFTY FUTURE 30 MIN
NIFTY FUTURE:

In today's trading, Nifty Future steadily increased to go up to the earlier high of 5139. It closed near the high of the day, suggesting that tomorrow it should open firm and hopefully cross the earlier high of 5169.

For tomorrow, if the opening is near today's close, one can buy with stop loss of 5100. On higher side it has tough resistance @ 5165 and 5185. Close above this level can take Nifty much higher and it will be prudent not to remain short. At higher levels, Nifty Future will find resistance @ 5220.

It is better not to go short, unless Nifty trades below 5065 with Stop Loss of 5100. On down side it will find support @ 5000 & 4935.

This is the same Nifty which was waiting to go below 4800 and now is on the threshold of making a new high. In one of the post last week, i had mentioned whether we are getting ready for the last leg of the rally? Albeit late by a week, the time has come when Nifty Future is poised to take the leap. Whether one should join the party or take this opportunity to get off the bull train will largely depend on the greed quotient of each investor. Its time we check our own greed quotient.

Put Call Ratio of Index Options increased to 1.47 as against 1.18 yesterday.

With Best Wishes,

Ketan Asher.

TURNING POINTS FOR 01.12.2009

NIFTY FUTURE 30 MIN NIFTY FUTURE EOD

NIFTY FUTURE:

In yesterday's trading Nifty Future continued its up move to test the upper level (5075) above which i had indicated that one should not remain short. If this level is not breached today it should be considered little seriously and it will be better to be light in long positions.

For today long positions can be considered with Stop Loss of 5000. On higher side 5075 - 5100 - 5150 will act as hurdle.

Nifty Future can be sold below 5000 with stop loss of 5040. On down side it will find support at 4965 and 4935 from which it can get a bounce as yesterday's gap would be filled. Weakness will accelerate below 4900.

Put Call Ratio of Index Options remained at 1.18 as against 1.20 yesterday.

Please do not forget to use STOP LOSS.

With Best Wishes,

Ketan Asher.