TURNING POINTS FOR 01.04.2010

NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD

NIFTY FUTURE :

In today's trading Nifty Future opened at yesterday's level but could not cross 5296 and went down to make day's low at 5245 and bounced back to 5293 and closed at 5261.

For last two day's Nifty Future has been forming lower bottom and lower top suggesting weakness.

For tomorrow, one should consider buying only above 5300 with stop loss of 5265. On higher side it will find resistance at 5345 and 5370.

Considering sideway movement during the day, it will be advisable to go short only bewlow 5240. On downside, it will find support at 5225 and strong support at 5170. One can consider going long at this level with stop loss of 5150.

Put Call Ratio of Index Options was marginally lower at 0.96 as against 0.99 yesterday.

Please do not trade without STOP LOSS.

With Best Wishes,

Ketan Asher.

TURNING POINTS FOR 31.03.2010

NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD

NIFTY FUTURE:

In today's trading Nifty Future could not go above 5331 and broke yesterday's low to make a new low @ 5263 and closed near the low @ 5274. Nifty future has taken support on the Trend Line shown in the EOD chart - which to me looks like a rising wedge. Tomorrow if this trend line is broken i.e. Nifty Future goes below 5260, fall can be sharp.

For Tomorrow, fresh short position should be taken below 5260 with stop loss of 5300. On down side it will find support at 5225 and 5170.

One can consider buying near 5225, with stop loss of 5200, as Nifty Future can see a sharp pullback up to 5285 as we have also to factor the possibility of Nifty Future going up for NAV effect - it is the last trading day of financial year 2009-10.

Put Call Ratio of Index Options increased to 0.99 as against 0.88 yesterday.

Being the last trading day of the financial year, do expect higher volatility - so please do not trade without STOP LOSS.

With Best Wishes,

Ketan Asher.

TURNING POINTS FOR 30.03.2010

NIFTY FUTURE 30 MIN / NIFTY FUTURE EOD

NIFTY FUTURE :

In today's trading Nifty Future continued its up move, to make new high of 5344, but gave up majority of the gains to close the day at 5312. With Infosys and Reliance both showing weakness, it will be interesting to see if Nifty Future is able to continue the up move in the coming days. Once again, in spite of maintaining up move, Nifty Future is not able to cross the trend line - in Brown, shown in EOD chart. In case it manages to cross the Trend Line on the back of better US markets, it will find resistance at 5420.

For tomorrow, i will continue to advise caution for long positions. Existing long positions should be trailed with a stop loss of 5290.

One can consider going short below 5290 with stop loss of 5325. On lower side it will find support at 5260 - 5225.

Put Call Ratio of Index Options marginally decreased to 0.88 as against 0.92.

Please do not trade without STOP LOSS.

With Best Wishes,

Ketan Asher.