Nifty Futures had a subdued day and moved within the Wednesday's range. The expiry players are into play but do we get the explosive expiry like November series is to be seen. The range of Wednesday between 5838 and 5950 is the range to watch ahead for breakout or breakdown. Nifty futures did not cross the 5950 level today and closed the gap of yesterday to mark a intraday correction. The close of today is yet heartening for the bulls as its near to 5928 level. For Friday if it sustains above 5950 we may see the upmove to continue and sustaining below 5928 will see some more corrective to sideways move . Intraday traders can look at the levels on spot nifty given below to trade on Friday.
No trade between 5897 and 5936(To avoid whipsaws)
Buy above 5936 sl of 5916
targets 5955-5974(add positions, breakout on the upside),
5993-6012-6031-6050-6069.
Sell below 5897 sl of 5917
targets 5878-5857(add positions,breakout on the downside)
5836-5815-5796-5777-5758.
Happy Trading !!!
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