Nifty June series expiry is at 5149.15, which is a gain of roughly 200 points. June series has been the bottom at 4789 to rise to 5020 and again a bottom at 4770 and rise to highs of 5190 and 5194 roughly. So the trend has been consolidation at bottom of 4770 after a huge fall then rise to resistance to 5190 level with consolidation again between 5050 to 5200. The best close is at 5165 and worst close is at 5054. So for the trend to be decided by nifty we need to close above or below this levels and sustain further. Staying out with less commitment is the call right now. Intraday traders can look at the levels on spot nifty given below to trade on Friday.
No trade between 5131 and 5167(To avoid whipsaw)
Buy above 5167 sl of 5147
targets 5185-5203(add positions breakout on the upside)
5221-5239-5257-5275-5293.
Sell below 5131 sl of 5151
targets 5113-5095(add positions breakout on the downside)
5077-5059-5041-5023-5005.
Happy Trading !!!
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