Nifty Futures bull run continues in the new series to hit a high of 5926 and closed the week at 5906.15. The suggested target for this run was near 5922-5950 and it was hit on Friday. On charts we can see futures hit the internal channel top and some reaction can be expected if it is not able to cross it on Monday. It may take support on the top of the falling channel marked around 5780-5800 levels. Indicators are also in the overbought region which may lead to profit bookings. The longs on nifty futures may be held with stop loss of 5898. Targets on the upside are 5936-5975 and supports below are 5898-5859-5821. Intraday traders can look at the levels on spot nifty given below to trade on Monday.
No trade between 5861 and 5899(To avoid whipsaws)
Buy above 5899 sl of 5879
targets 5918-5937(add positions, breakout on the upside),
5956-5975-5994-6013-6031.
Sell below 5861 sl of 5881
targets 5842-5823(add positions,breakout on the downside)
5804-5785-5766-5747-5728.
Happy Trading !!!
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