Nifty futures opened the day below 5757 which was negative start for the day continued in red to hit the target of 5698 and then closed below this level at 5683.75. Tomorrow we need to be positive above 5698 with 5757 as resistance. Above this level we can be positive for the trend. Price action is continuing within the channel so alarms yet. Indicators are still above the earlier lows and need to cross the resistance levels. Intraday traders can look at the levels on spot nifty to trade on Thursday.
Spot Nifty Levels for Trading on Wednesday :
No trade between 5654 and 5692(To avoid whipsaws)
Buy above 5692 sl of 5672
targets 5711-5730(add positions, breakout on the upside),
5749-5768-5787-5806-5825.
Sell below 5654 sl of 5674
targets 5635-5616(add positions,breakout on the downside)
5597-5578-5559-5540-5521.
Happy Trading !!!
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