Nifty futures opened at high and went into red and stayed there for most of the day and made a comeback to the neutral line and again closed near it. The net loss was 24 points with close at 6085. This shows lack of commitment at higher levels with expiry looming overhead. Trend players can look to long above 5139 with suitable stop loss. Intraday traders can look at the levels on spot nifty given below to trade on Thursday.
Spot Nifty Levels for Trading on Thursday :
No trade between 6085 and 6124(To avoid whipsaws)
Buy above 6124 sl of 6104
targets 6143-6162(add positions, breakout on the upside),
6181-6200-6219-6238-6257.
Sell below 6085 sl of 6105
targets 6066-6047(add positions,breakout on the downside)
6028-6009-5990-5961-5942.
Happy Trading !!!
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