Nifty futures is moving in a range of 100 points of 5750 and 5650. A bigger range of 300 points is the deciding zone for it from 5550 to 5850 on the futures. This correction is time consuming and yet to make a huge dent on the price of futures. So for near term its better for trend players to stay out till the bigger zone of 300 points is not violated. It always happen when there is a huge run up in small time and price has to catch with time. It can be frustrating for trend traders with no clear direction. On futures charts the RSI is between 40 to 60 range break on either side will give a good move. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.
No trade between 5668 and 5706(To avoid whipsaws)
Buy above 5706 sl of 5686
targets 5725-5744(add positions, breakout on the upside),
5763-5782-5801-5820-5839.
Sell below 5668 sl of 5688
targets 5649-5630(add positions,breakout on the downside)
5621-5602-5583-5564-5545.
Happy Trading !!!
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