Nifty had a small recovery at the end of the day after opening in the green and staying in green for the day. Futures have closed above the intermediate resistance(not the level one resistance mentioned earlier) of 5910. Level one hurdle for the futures is at 6063 above which we may see further momentum. Trend players should watch both levels with interest for taking positions.Nothing has changed much on the indicators. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.
Spot Nifty Levels for Trading on Tuesday :
No trade between 5885 and 5923(To avoid whipsaws)
Buy above 5923 sl of 5903
targets 5942-5961(add positions, breakout on the upside),
5980-5999-6018-6037-6056.
Sell below 5885 sl of 5905
targets 5866-5847(add positions,breakout on the downside)
5828-5809-5790-5771-5752.
Happy Trading !!!
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