Nifty has broken down from the rising green channel.It is now in the downward sloping red channel. Today's price action was between the yellow lines. The breakout on either side of the yellow line will decide the trend. The above chart is for nifty futures 15 minutes time frame and purely intraday for expiry tomorrow. The momentum after high of 5000 looks downwards for expiry. Intraday traders can look at the levels on spot nifty given below for Thursday.
No trade between 4933 and 4968(To avoid whipsaw)
Buy above 4968 sl of 4948
targets 4984-5002(add positions breakout on the upside
5020-5038-5054-5072-5090.
Sell below 4933 sl of 4953
targets 4915-4897(add positions breakout on the downside)
4879-4861-4843-4825-4807.
Happy Trading !
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