Nifty futures sideways range continues between the levels of 5975 to 6050. Today a lower low was made at 5981.35 but some recovery was seen at close of 6001. Trade on breakout of this range with suitable stop loss. Tomorrow astrologically could be a momentum day and we may see a breakout of this range so be careful. Watch the top of the aqua channel as falling in to the channel again will require more time for recovery of the losses on price. Both the indicators are headed down but are at critical levels . If reversal is seen watch the indicators for some confirmation and do not forget to use the levels given below. Intraday traders can look for the levels on spot nifty given below to trade on Thursday.
Trade Levels for Thursday :
No trade between 5952 and 5991(To avoid whipsaws)
Buy above 5991 sl of 6011
targets 6010-6029(add positions, breakout on the upside),
6048-6067-6086-6105-6124.
Sell below 5952 sl of 5972
targets 5933-5914(add positions,breakout on the downside)
5893-5874-5855-5836-5817.
Happy Trading !!!
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