Nifty Futures M M Levels on Daily Chart
Nifty futures closed the day at 5922.50 above the level of 5910. The intermediate resistance level for this series is at 5910 and should be carefully watched. Staying above this will be good for the trend and possible upside. But below this level we may see some consolidation or correction. The first chart show the Murray Maths levels on Nifty futures and here the critical levels comes at 5938 with supports at 5859 and resistance at 6016. This levels can be used by trend players while taking positions for the May series. Intraday traders can use the levels on spot nifty given below to trade on Thursday.
Spot Nifty Levels for Trading on Thursday :
No trade between 5911 and 5947(To avoid whipsaws)
Buy above 5947 sl of 5927
targets 5966-5985(add positions, breakout on the upside),
6004-6023-6042-6061-6080.
Sell below 5911 sl of 5931
targets 5892-5873(add positions,breakout on the downside)
5854-5835-5816-5797-5778.
Happy Trading !!!
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