Nifty had a negative week with sentiments being bad all over the world and across all the assets.The up trend below 4888 on spot Nifty is over.For any reversal of minor degree will need spot Nifty to trade at least above 4888 and then 4933.For today breakout on the upside will occur above 4888 and break down will occur below 4845.If 4933 is achieved we have target of 4990.On achievement of 4990 we have 5046.On the downside if we break below 4845 first target is 4804.If 4804 comes then next target is 4746 and if 4746 is achieved then 4692.Now we have four days for expiry.Personally I feel Monday and Wednesday positive and Tuesday and Thursday negative.
Levels to watch for intraday on Spot Nifty :
No trading zone between 4850 to 4885 to avoid whipsaws.
Buy above 4885 with SL of 4870 for targets of 4903 - 4920 - 4938- 4955
Sell below 4850 with SL of 4865 for targets of 4833 - 4816 - 4798- 4781
Happy Trading !
No trading zone between 4850 to 4885 to avoid whipsaws.
Buy above 4885 with SL of 4870 for targets of 4903 - 4920 - 4938- 4955
Sell below 4850 with SL of 4865 for targets of 4833 - 4816 - 4798- 4781
Happy Trading !
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