Nifty futures gave most of the gains of the week and closed at 5725. The monthly pivot was at 5747 and stop loss was at 5727 so it was hit for trend players. Trend player can again long above the level of 5747 as and when it comes with the same stop loss for targets of 5922-5950. Nifty future have maintained the channel of short term green colour and breach of this channel may take it to the bottom of the mid term channel voilet colour. The green colour channel has some space of 3-4 days if the action remains sideways instead of breaching it. Intraday traders can look at the levels on spot nifty given below to trade on Monday. Next week is truncated one with Muhurat Session on Wednesday 13 th November from 3.45 pm to 4.30 pm. November 14 is a holiday.
No trade between 5667 and 5705(To avoid whipsaws)
Buy above 5705 sl of 5685
targets 5724-5743(add positions, breakout on the upside),
5763-5782-5801-5820-5839.
Sell below 5667 sl of 5687
targets 5648-5629(add positions,breakout on the downside)
5630-5611-5592-5573-5554.
Happy Trading !!!
Hi Sir Good morning
ReplyDeleteJust came through this blog.Fantastic analysis.
Thank you sir.
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K B Raut