Nifty had a very bad out for investors today after the gap up opening in the morning. Spot nifty was resisted at 5190.20 high today then gave the rise quickly to bottom at 5041.70 and closed the day at 5064.25. In all the day was on the down side with no recovery possible as it appeared. The momentum on the upside was lost with this fall. Now nifty has to regroup its strength again and cross the level of 5138 to show any chances of recovery. Sustaining below this level will make the recovery very difficult. Critical levels for spot nifty are marked on charts. Intraday traders can look at the level given below on spot nifty to trade on Tuesday.
No trade between 5046 and 5082(To avoid whipsaw)
Buy above 5082 sl of 5062
targets 5100-5118(add positions breakout on the upside)
5136-5154-5172-5190-5208.
Sell below 5046 sl of 5066
targets 5028-5010(add positions breakout on the downside)
4992-4974-4956-4938-4920.
Happy Trading !!!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.