Nifty futures recovered the days losses to close in green at 6047.50 and days high was at 6052.50. The earlier high of 6058.15 is within striking distance but needs to crossed .On charts we are in between the normal channel and could hit top of this channel if we sustain above 6058.15. The weekly was the highest close for this bull run. So above 6050 we have 6129 target as our third monthly target. So trend players can buy above 6050 with suitable stop loss and look for targets of 6129. Intraday traders can look at the levels on spot nifty to trade on Monday.
Trade Levels for Monday :
No trade between 5997 and 6037(To avoid whipsaws)
Buy above 6037 sl of 6017
targets 6056-6075(add positions, breakout on the upside),
6094-6113-6132-6151-6170.
Sell below 5997 sl of 6017
targets 5978-5959(add positions,breakout on the downside)
5940-5921-5902-5883-5864.
Happy Trading !!!
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