Nifty futures made a new low at 5822 very near to the earlier low of 5825 made on Friday. The volatility is on the increase and prices are seen within the range. On charts we are still hugging the red line on charts and below the aqua line. The divergence on charts depicted by the indicators is growing strong and possibly tomorrow or day after may the days for recovery . The price is range bound between the levels of 5827 and 5971. One can use the range for trading safely. The recovery if seen needs to cross above the 5971 level to be on the long side, else the range may be used for profit bookings. The close is again at the very same level for the last 3 days so use the same levels on spot nifty to trade on Tuesday. Use earlier levels for trend play.
Spot Nifty Levels for Trading on Tuesday :
No trade between 5833 and 5872(To avoid whipsaws)
Buy above 5872 sl of 5852
targets 5891-5910(add positions, breakout on the upside),
5929-5948-5967-5986-6005.
Sell below 5833 sl of 5853
targets 5814-5795(add positions,breakout on the downside)
5776-5757-5738-5719-5700.
Happy Trading !!!
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