Nifty made a lower low on Friday at 5294.10 and had a lower close at 5320.40. The weekly close above 5313 is significant after breaching the 5300. Its shows strength in the trend which will be strengthened further by spot nifty closing above the 5350 levels. Spot nifty breaching the level of 5300 will make it susceptible to level of 5257.00. On the upside it has to cross the 5380-5402 hurdle with 5313 as pivot. On charts nothing has changed expect the lower low. Intraday traders can look at the levels on spot nifty to trade on Monday.
No trade between 5302 and 5338(To avoid whipsaw)
Buy above 5338 sl of 5318
targets 5357-5376(add positions breakout on the upside)-
5395-5414-5433-5452-5471.
Sell below 5302 sl of 5322
targets 5283-5265(add positions breakout on the downside)
5247-5229-5211-5193-5175.
Happy Trading !!!
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