Nifty futures breached the green channel with the open at 5655 and touched a low of 5620 and closed the day at 5647.60. The support below 5747 was 5673 and it was broken today. The support below it were 5636 and 5599. Today futures hit the target of 5636 and closed above it. Sustaining below 5636 will make it prone to 5599-5562-5525. The upside the resistance for futures is 5673-5710-5747. Intraday traders can look at the levels on spot nifty given below to trade on Friday.
No trade between 5612 and 5650(To avoid whipsaws)
Buy above 5650 sl of 5630
targets 5669-5688(add positions, breakout on the upside),
5707-5726-5745-5764-5783.
Sell below 5612 sl of 5632
targets 5593-5574(add positions,breakout on the downside)
5555-5536-5517-5498-5479.
Happy Trading !!!
I really appreciate your post
ReplyDeleteHi Pk,
ReplyDeleteThanks. It makes my efforts worthwhile when I read it..
Regards
K B Raut