Nifty broke the low made earlier and gave a breakdown to close below 5100 at 5086.85Nifty has clearly moved out of the of 5130 to 5330.One can remain short on spot nifty with a stop loss of 5130.Above which spot nifty may again move into the same range of sideways action.Only breakout above 5330 on spot nifty can make it positive.The low on spot nifty has been the same made by it on 30.01.2012.Sustaining above this level of 5076 can help it to make some recovery on Monday.Below this level it will correct further down to levels shown in charts. Intraday traders can look at the levels below on spot nifty to trade on Monday.
No trade between 5069 and 5105(To avoid whipsaw)
Buy above 5105 sl of 5085
targets 5123-5141(add positions breakout on the upside)
5159-5177-5195-5213-5241.
Sell below 5069 sl of 5089
targets 5051-5033(add positions breakout on the downside
5015-4997-4979-4961-4942.
Buy above 5105 sl of 5085
targets 5123-5141(add positions breakout on the upside)
5159-5177-5195-5213-5241.
Sell below 5069 sl of 5089
targets 5051-5033(add positions breakout on the downside
5015-4997-4979-4961-4942.
Happy Trading !
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