Nifty futures opened with a gap to make a high of 5961.40 and then moved sideways to close at the price of 5942.50. But has a left a gap of 6 points with this positive close. On charts it looks positive with promise to carry on the upside barring any surprises as we are nearing the expiry with option writers at their best. We need to take out the high of 6002.85 as possible to keep the momentum on for the upside. Intraday traders can look at the levels on spot nifty given below to trade on Thursday.
No trade between 5910 and 5949(To avoid whipsaws)
Buy above 5949 sl of 5929
targets 5968-5987(add positions, breakout on the upside),
6006-6025-6044-6063-6082.
Sell below 5910 sl of 5930
targets 5891-5872(add positions,breakout on the downside)
5853-5834-5815-5796-5777.
Happy Trading !!!
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