Nifty Futures opened down today and continued down for the day to close at 6016.90. The 6050 level was taken out today and we closed below it. The level to watch now is 5975 closing below it will be detrimental for the momentum. On chart see the "zone to watch " for a clear picture. For the trend we are still above the aqua trend-line and within the bigger rising channel. Intraday traders can look at the levels on spot nifty to trade on Thursday.
Trade Levels for Thursday :
No trade between 5983 and 6032(To avoid whipsaws)
Buy above 6032 sl of 6012
targets 6051-6060(add positions, breakout on the upside),
6079-6098-6117-6136-6155.
Sell below 5983 sl of 6003
targets 5964-5945(add positions,breakout on the downside)
5926-5907-5888-5869-5850.
Happy Trading !!!
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