Nifty Futures closed below the monthly pivot of 5747 but are very near to it at 5739.85. The nifty futures chart show the break and close above the falling channel. Nifty futures look positive above the channel break and should not fall in the channel. The level to watch is 5700 on the futures breach of it will take us back in the channel. Above the pivot the targets are 5821 and 5898 with possible targets of 5922-5950. On the downside we have supports at 5670 and 5595. Intraday traders can look at the levels on spot nifty given below to trade on Monday.
No trade between 5679 and 5717(To avoid whipsaws)
Buy above 5717 sl of 5697
targets 5736-5755(add positions, breakout on the upside),
5774-5793-5812-5831-5850.
Sell below 5679 sl of 5699
targets 5660-5641(add positions,breakout on the downside)
5622-5603-5584-5565-5546.
Happy Trading !!!
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