Nifty has given a breakout on the upside and the dream run continues on it.It was gap up and nifty was relentless on the upside.The level of 5550 nearly reached by spot nifty.Positional traders have been in profits if taken long with our view.Targets for spot can be 5600-5625.Keep stop loss on the positional call at 5525 .Intraday traders can look at the levels on spot nifty given below to trade on 16.02.2012.
Spot Nifty levels for intra-day trade on 16.02.2012
No trade between 5513 and 5551(to avoid whipsaws)
Buy above 5551 with SL of 5531
for targets of 5569-5588(breakout level on the upside,add positions) 5607-5625-5644-5663-5682-5701.
No trade between 5513 and 5551(to avoid whipsaws)
Buy above 5551 with SL of 5531
for targets of 5569-5588(breakout level on the upside,add positions) 5607-5625-5644-5663-5682-5701.
Sell below 5513 with SL of 5533
for targets of 5495-5476(breakdown level on downside, add positions)-5458 -5439-5421- 5403- 5384-5366.
Happy Trading !
for targets of 5495-5476(breakdown level on downside, add positions)-5458 -5439-5421- 5403- 5384-5366.
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