Nifty futures had a choppy day again and recovered at the end of day to close at 5823.45 after making a low of 5776.15. The recent closes for futures have been above the level of 5803 our intermediate support. So we need to watch the futures if they close below this level. The next resistance level is at 5910 and close above this may see further recovery. Below 5803 we are again open for downside with support level no 2 for this series at 5697. So use these levels for trend determination. 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 5803 and 5841(To avoid whipsaws)
Buy above 5841 sl of 5821
targets 5860-5879(add positions, breakout on the upside),
5898-5917-5936-5955-5974.
Sell below 5803 sl of 5823
targets 5784-5765(add positions,breakout on the downside)
5746-5727-5708-5689-5670.
Happy Trading !!!
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