Nifty has bounced back smartly today.Its been consolidation time for past few days on nifty.Those who could buy at the level above 5337 on nifty future are in profits.Also those who could but as per spot levels given yesterday are also in profit.On the spot nifty close above 5400 will be strong.Please trail your profits with suitable stop loss.Nifty future chart shows nifty fan with supports and resistance ahead.Intraday traders can look at levels on spot nifty to trade on 22.03.2012.
Spot Nifty levels for intra-day trade on 22.03.2012
No trade between 5346 and 5383(to avoid whipsaws)
Buy above 5383 with SL of 5363
for targets of 5401-5419(breakout level on the upside,add positions) 5437-5455-5473-5491-5509-5527.
No trade between 5346 and 5383(to avoid whipsaws)
Buy above 5383 with SL of 5363
for targets of 5401-5419(breakout level on the upside,add positions) 5437-5455-5473-5491-5509-5527.
Sell below 5346 with SL of 5366
for targets of 5328-5310(breakdown level on downside, add positions)5292-5274-5256-5238-5220-5202- 5184.
Happy Trading !
for targets of 5328-5310(breakdown level on downside, add positions)5292-5274-5256-5238-5220-5202- 5184.
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