Nifty opened today gap up at 4963.50 closed the gap by moving just below it at 4830.15 and then swing between days high for second time to close at 4921.40. In all a good swing of 100 points for those who were on right side of it. This is the third time we are flirting with 4900 levels. We have failed at 4950 levels earlier so its a big level to watch. Taking out 4950 will be positive for the swing to target 5000. Above charts show the swing targets with stop loss for the trade. All levels in chart are for nifty future. Intraday traders can look at the levels on spot nifty to trade on Friday.
No trade between 4904 and 4939(To avoid whipsaw)
Buy above 4939 sl of 4919
targets 4957-4975(add positions breakout on the upside)
4993-5011-5028-5046-5064
Sell below 4919 sl of 4939
targets 4901-4883(add positions breakout on the downside)
4865-4847-4829-4811-4793.
targets 4957-4975(add positions breakout on the upside)
4993-5011-5028-5046-5064
Sell below 4919 sl of 4939
targets 4901-4883(add positions breakout on the downside)
4865-4847-4829-4811-4793.
Happy Trading !
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