Nifty Futures made a new swing high at 6239 and closed the day at 6196.10. The low made was at 6154.35. The index needs to sustain above the level of 5216 for further rise. The level to watch on downside is 6139 for any reversal chances. Indicators are not showing strength but yet no divergences seen to make a reversal call. 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 6137 and 6177(To avoid whipsaws)
Buy above 6166 sl of 6146
targets 6177-6196(add positions, breakout on the upside),
6215-6234-6253-6272-6291.
Sell below 6137 sl of 6157
targets 6118-6099(add positions,breakout on the downside)
6080-6061-6042-6023-6004.
Happy Trading !!!
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