Nifty did made a new high today and made a higher low today which keeps the trend intact.The move has turned sideways for three days without significant rise in nifty. To maintain the momentum we need a big move or else we may see some more sideways to corrective move. On charts MFI still is strong and turned its head up once again which shows some buying happening in markets. If no new high is made tomorrow we may see some profit booking upto 5250-5200 levels in next two days. If momentum continues then our pending target of 5350 on spot nifty will get materialised.
No trade between 5284 and 5321(To avoid whipsaw)
Buy above 5321 sl of 5301
targets 5339-5357(add positions breakout on the upside)
5375-5393-5419-5437-5455.
Sell below 5284 sl of 5304
targets 5266-5248(add positions breakout on the downside)
5230-5212-5194-5176-5158.
Happy Trading !!!
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