Today Spot Nifty opened with a gap up and continue on the upside to hit the high of 5807.25 and closed the day at 5787.60. On charts on nifty futures the intermediate target of 5835 was achieved today and close is near the 5830. Now the next hurdle for nifty futures is at 5930-5950 levels and for the same to be achieved it needs to sustain above the levels of 5830.The key level to watch on nifty futures for the weekly close is 5781 and close above it will be positive for it. The trend is positive above the level of 5728 for the trend players. Intraday traders can look at the levels on spot nifty to Trade on Friday.
No trade between 5769 and 5807(To avoid whipsaws)
Buy above 5807 sl of 5787
targets 5826-5845(add positions, breakout on the upside),
5864-5883-5902-5921-5940.
Sell below 5769 sl of 5789
targets 5750-5731(add positions,breakout on the downside)
5712-5693-5674-5655-5636.
Happy Trading !!!
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