Nifty futures opened with a gap down made a low of 5834.90 and moved sideways again to close the day at 5849. Now for intraday positiveness we need a move above 5887 and negative trend will start below 5815. On price chart, we are within the range established earlier, so sideways. RSI and MFI both show short term weakness below their earlier highs. Momentum can be seen out of this price range and indicators making new high for upside. Use levels given earlier for trend trading. Intraday players can look at the levels on spot nifty given below to trade on Tuesday.
Spot Nifty Levels for Trading on Tuesday :
No trade between 5816 and 5854(To avoid whipsaws)
Buy above 5854 sl of 5834
targets 5873-5892(add positions, breakout on the upside),
5911-5930-5949-5968-5987.
Sell below 5816 sl of 5836
targets 5797-5778(add positions,breakout on the downside)
5759-5740-5721-5702-5683.
Happy Trading !!!
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