Nifty Futures today maintained the channel support and closed above 5600. The hurdles yet to be cleared are 5636 and 5673. Closing above the level of 5673 will make this recovery meaningful to make a move towards the monthly pivot of 5747. Not sustaining above 5636 will make it weak again for sideways to negative action. Nifty futures long stop loss can be at 5597 for this move. Intraday traders can look at the levels on spot nifty to trade on Thursday.
No trade between 5596 and 5634(To avoid whipsaws)
Buy above 5634 sl of 5614
targets 5653-5672(add positions, breakout on the upside),
5691-5710-5729-5748-5767.
Sell below 5596 sl of 5616
targets 5577-5558(add positions,breakout on the downside)
5539-5520-5501-5482-5463.
Happy Trading !!!
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