Nifty Futures did not breach the level of 5975 to be bearish . So it was in sideways mode between 5975 to 6050 range. The high made was 6050.40 so we are yet to cross the 6060 level for a breakout on the upside. Targets on the upside is 6129 and breach of 5975 may take us to 5930 levels. So try to use the levels for the trade with suitable stop loss. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.
Trade Levels for Wednesday :
No trade between 5982 and 6021(To avoid whipsaws)
Buy above 6021 sl of 6001
targets 6040-6059(add positions, breakout on the upside),
6078-6097-6116-6135-6154.
Sell below 5982 sl of 6002
targets 5963-5944(add positions,breakout on the downside)
5923-5904-5885-5866-5847.
Happy Trading !!!
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