Nifty futures faltered on the 13th day of May 2013 and had a correction to make a low of 5986.10 and closed the day at 5987.25. The intermediate resistance of 6139 will be hurdle now and up trend will continue above it. Nifty future has closed below the resistance level no 1 of 6063 and this will be the hurdle for the short term and below this support is at 5917. For intraday level to watch is 5970 above it will be positive for intraday. RSI and MFI are down today with MACD only in the positive. So above 5970 expect some recovery and sustaining below it watch the level of 5917 critically. Intraday traders can use the levels on spot nifty given below to trade on Tuesday.
Spot Nifty Levels for Trading on Tuesday :
No trade between 5961 and 6000(To avoid whipsaws)
Buy above 6000 sl of 5980
targets 6019-6038(add positions, breakout on the upside),
6057-6076-6095-6114-6133.
Sell below 5961 sl of 5981
targets 5942-5923(add positions,breakout on the downside)
5904-5885-5866-5847-5828.
Happy Trading !!!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.