Nifty opened today gap down at 5015.15 which was the low for the day. It recovered as the day progressed to make a swing high at 5128.90 and closed shops at 5119.10 which is the highest close of this swing. Nifty has support and resistance as shown in charts. MFI still looks positive which augers well for the trend. Intraday traders can look at the levels on spot nifty to trade on Wednesday.
No trade between 5098 and 5134(To avoid whipsaw)
Buy above 5134 sl of 5114
targets 5152-5180(add positions breakout on the upside)
5206-5224-5242-5260-5278.
Sell below 5098 sl of 5118
targets 5080-5062(add positions breakout on the downside)
5044-5026-5008-4990-4972.
Happy Trading !
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