Nifty futures today recovered the losses of the last two days and closed above the 5900 mark to close at 5914.50. Today futures had to stay above 5858 and cross 5898 which it did cross. Above 5898 we had a resistance of 5928 and today's high was 5926.45. So the level of 5928 becomes important for tomorrow. For the trend to continue it should cross 5928 above it we have the range resistance of 5950. For tomorrow it should stay above 5898 to be positive and below it will be negative. So levels to be watch are 5928 and 5950 on the upside and 5898-5858 on the downside. Intraday traders can look at the levels on spot nifty given below to trade on Thursday for the expiry of December series.
No trade between 5886 and 5925(To avoid whipsaws)
Buy above 5925 sl of 5905
targets 5944-5963(add positions, breakout on the upside),
5982-6001-6020-6039-6058.
Sell below 5886 sl of 5866
targets 5867-5848(add positions,breakout on the downside)
5829-5810-5791-5772-5753.
Happy Trading !!!
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