Nifty futures hit the high of 5933 and closed the day 5916 slightly above the weekly close. The momentum of last three days was absent on the index as this zone of 5922-5950 is a resistance zone. The charts above show the important levels on Nifty future on daily and hourly time frame. The monthly pivot for this month is at 5825 which is at a safe distance so trend is up. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.
No trade between 5852 and 5890(To avoid whipsaws)
Buy above 5890 sl of 5870
targets 5909-5928(add positions, breakout on the upside),
5947-5966-5985-6004-6023.
Sell below 5870 sl of 5890
targets 5851-5832(add positions,breakout on the downside)
5813-5794-5775-5756-5737.
Happy Trading !!!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.