Nifty futures have continued further today after the weekly consolidation and break out above 6050. The target of 6125 is within reach now with the high of today being at 5096 and close at 5083.15. Watch the level of 6050 for longs with suitable stop loss. Price are within the main rising channel and making higher highs and higher lows yet to create any panics so trend is to continue upwards. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.
Trade Levels for Wednesday :
No trade between 6037 and 6076(To avoid whipsaws)
Buy above 6076 sl of 6056
targets 6095-6112(add positions, breakout on the upside),
6131-6150-6169-6188-6207.
Sell below 6037 sl of 6057
targets 6016-5997(add positions,breakout on the downside)
5989-5970-5951-5932-5913.
Happy Trading !!!
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