Nifty opened gap down today at 5395.70 and was sideways for major part of the day within yesterday's close. It made a new high late in the day at 5433.50 but closed in red at 5412.85 with a loss of 8 points. The pivot for this rise is 5402 on the spot nifty and stop loss is at 5388. So till 5388 is not breached on closing basis this trend is in safe hands. Nothing has changed on charts above to warrant attention so the trend is on. Intraday traders can look at the levels on spot nifty to trade on Thursday.
No trade between 5395 and 5431(To avoid whipsaws)
Buy above 5431 sl of 5411
targets 5451-5471(add positions, breakout on the upside),
5491-5511-5531-5551-5571.
Sell below 5395 sl of 5415
targets 5375-5355(add positions,breakout on the downside)
5336-5317-5299-5281-5263.
Happy Trading !!!
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