Nifty Futures opened with a gap up breached yesterday close and recovered nicely for the noon. Then suddenly gave up the gains to make new low for the series at 5655.05. The days close is at 5664.45. The resistances on the upside are at 5756 and 5815 and downside we may see 5551 if not able to sustain above 5684. Both the indicators are nearly at bottoms formed earlier and need to be watched for reversals. Intraday level for futures to start recovery is above 5697. Intraday traders can look at the levels on spot nifty given below to trade on Friday.
Spot Nifty Levels for Trading on Friday :
No trade between 5640 and 5670(To avoid whipsaws)
Buy above 5670 sl of 5650
targets 5689-5708(add positions, breakout on the upside),
5727-5746-5765-5784-5803.
Sell below 5640 sl of 5660
targets 5621-5602(add positions,breakout on the downside)
5583-5564-5543-5524-5505.
Happy Trading !!!
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