Nifty made a new high at 5333.65 today again and closed the day at 5327.30. Nifty closed at the higher end of the day but the rise on nifty is not significant after 4 days of trading if compared with last weeks close at 5278.90. The uptrend has not gathered the momentum expected to touch the 5350 mark. If spot nifty sustain above the 5310 mark then we may see further gains. If it does not sustain above this level of 5310 we may see some correction up to 5250-5200 levels. On charts spot nifty hit the fibo fan resistance at 5330 level. Intraday traders can look at the levels on spot nifty given below to trade on Friday.
No trade between 5309 and 5345(To avoid whipsaw)
Buy above 5345 sl of 5325
targets 5363-5381(add positions breakout on the upside)
5399-5417-5435-5453-5471.
Sell below 5309 sl of 5329
targets 5291-5273(add positions breakout on the downside)
5255-5237-5219-5201-5183.
Happy Trading !!!
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