Nifty traders were caught unawares by Fridays fall.If we take 4720 as zero degrees then we completed one rotation of 360 degrees at 4999 and one and half rotation(360 + 180 degrees) at 5141 but we had only one close above it.The 45 degree level on Nifty comes at 5034 and that is intact yet.If the prices fall below the 45 degree level then the fall may continue further to 4999(360 or 0 degrees), 4929(270 degrees), 4904(240 degrees) and 4897(225 degrees) where it should find support ideally for the short term.
Levels to watch on Spot Nifty :
No trading zone between 5042 to 5077 to avoid whipsaws.
Buy above 5077 with SL of 5062 for targets of 5095 - 5113 - 5131- 5156
Sell below 5042 with SL of 5057 for targets of 5024 - 5003 - 4989 - 4964
Happy Trading !
No trading zone between 5042 to 5077 to avoid whipsaws.
Buy above 5077 with SL of 5062 for targets of 5095 - 5113 - 5131- 5156
Sell below 5042 with SL of 5057 for targets of 5024 - 5003 - 4989 - 4964
Happy Trading !
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