Nifty Futures had a volatile day moving from high of 6091.30 and low of 6063.50 in a small range and closed the day at 6078.15. The close is above the 6075 and within striking distance of high of 6109. On charts its again we see the channel showing its importance after bouncing from the lower end of the channel. Indicators are within the same range so no clues there. MFI shows some buying happening at lower levels and its rise will give some momentum to the price. Use the levels given in earlier posts which have worked very well to catch this trend. Intraday traders can look at the levels on spot nifty to trade on Tuesday.
Trade Levels for Tuesday :
No trade between 6055 and 6094(To avoid whipsaws)
Buy above 6094 sl of 6074
targets 6113-6132(add positions, breakout on the upside),
6151-6170-6189-6208-6227.
Sell below 6055 sl of 6075
targets 6036-6017(add positions,breakout on the downside)
5998-5977-5956-5935-5914.
Happy Trading !!!
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