Nifty futures had given a false breakdown today after making a low of 5838.05 and then a short covering rally was seen till the end of the day. On charts it did breach the aqua channel but recovered immediately to close positively for the day at 5930.90. The divergence was seen on the indicators and could have saved the day for intraday players. Now we need to sustain above the 5928 level and cross the today's high of 5950 to challenge the 6000 level again. Above 6000 level we have 6052 and 6129 to be watched. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.
No trade between 5878 and 5916(To avoid whipsaws)
Buy above 5916 sl of 5896
targets 5935-5954(add positions, breakout on the upside),
5973-5992-6011-6030-6049.
Sell below 5878 sl of 5898
targets 5859-5840(add positions,breakout on the downside)
5821-5802-5783-5764-5745.
Happy Trading !!!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.