Nifty Futures today stayed in the negative territory for the whole day and made low of 5701 and closed the day at 5715.50. The trend was clearly down from yesterday as we had moved and closed below the level of 5815. The level of 5683 is very near and the last low of 5678 little above. If both these levels are held then we may see some recovery. Now resistance is at 5815 and above this level we may see meaningful recovery. Both the indicators are near supports as shown in charts. Intraday traders can look at the levels on spot nifty given below to trade on Thursday.
Spot Nifty Levels for Trading on Thursday :
No trade between 5676 and 5713(To avoid whipsaws)
Buy above 5713 sl of 5693
targets 5732-5751(add positions, breakout on the upside),
5770-5789-5808-5827-5846.
Sell below 5676 sl of 5696
targets 5657-5638(add positions,breakout on the downside)
5619-5600-5581-5562-5543.
Happy Trading !!!
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