Nifty Futures are consisting hitting the top of the channel and rather sticking to it with close at 5949.80. But they did break above the resistance of 5950 by making a high of 5958.85. Now confirmation is required by closing above this channel top. The resistance is at 5975 which was second target for this series. The next target above it is 6052. Enjoy the trend till it is on. The stop loss now could be raised to 5928 on nifty futures. Intraday traders can use the levels on spot nifty given below to trade on Thursday.
No trade between 5881 and 5920(To avoid whipsaws)
Buy above 5920 sl of 5900
targets 5939-5958(add positions, breakout on the upside),
5977-5996-6015-6034-6053.
Sell below 5881 sl of 5901
targets 5862-5843(add positions,breakout on the downside)
5824-5805-5786-5767-5748.
Happy Trading !!!
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