Another choppy day for nifty futures with close slightly negative at 6038.45. We are at the same position on charts at this time frame. So use yesterday view for tomorrow.
Nifty futures on 4 hourly chart again emphasizes the 6016 as the critical level. Resistance at 6094 and support at 5938 on this time frame.
The hourly chart of futures with awesome indicator has been again choppy for the trade with the indicator hovering around the zero level with alteration of red and green bars. RSI and MACD are sideways. MFI has corrected a lot and we need to watch for a significant bottom on it.
Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.
Spot Nifty Levels for Trading on Tuesday :
No trade between 6012 and 6051(To avoid whipsaws)
Buy above 6051 sl of 6031
targets 6070-6089(add positions, breakout on the upside),
6108-6127-6146-6165-6184.
Sell below 6012 sl of 6032
targets 5993-5974(add positions,breakout on the downside)
5955-5936-5917-5898-5879.
Happy Trading !!!
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