Nifty has closed on expiry at 4924.25 which is the consensus value value at the end of May. We had a dip below 5 days low at 4883.55 earlier low being 4889.35. Breach of today low could take us to 4850-4835. On the chart for nifty future above we can be positive above 4918 for targets of 4940 and 4978. Below 4918 we are susceptible to 4889 and 4858 the Ichimoku clouds supports. Below this level of 4858 the trend looks doubtful. Intraday traders can look look at the levels on spot nifty to trade for Friday.
No trade between 4907 and 4942(To avoid whipsaw)
Buy above 4942 sl of 4922
targets 4960-4978(add positions breakout on the upside
4994-5012-5030-5048-5064.
Sell below 4907 sl of 4927
targets 4889-4871(add positions breakout on the downside)
4853-4835-4817-4800-4783.
Happy Trading !
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