Nifty futures are fiddling to make a bottom and moving in a range. On chart above it is hanging above the red line . On the indicators we see some chances of reversals. The price actions for any recovery, needs to move above the aqua line on chart. Today it was positive above 5887 and resistance was at 5936.50. For tomorrow we have the same levels to watch. Above 5936.50, we may see some recovery. Between 5936.50 and 5887, it may be range bound. Breaking below 5887 will be negative for the day. Use the levels given earlier to trade for the trend. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.
Spot Nifty Levels for Trading on Tuesday :
No trade between 5879 and 5917(To avoid whipsaws)
Buy above 5917 sl of 5897
targets 5936-5955(add positions, breakout on the upside),
5974-5993-6012-6031-6050-6069.
Sell below 5879 sl of 5899
targets 5860-5841(add positions,breakout on the downside)
5822-5803-5784-5765-5746.
Happy Trading !!!
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