Nifty futures gained 15 points at the end of the day with the high at 5672.70 and low at 569.55. The only solace is no new low was made today. The trend is down on this time frame below 5923.25. Watch the main levels for this series to catch the trend.
On the 4 hourly MM levels chart 5703 is the level to watch above this we are positive for intraday. Resistance at 5671 and support at 5625.
On the hourly chart for futures we are still below the second green channel. The level to watch for some positive trend is 5750 on this time frame.
Intraday traders can use the levels given below on spot nifty to trade on Tuesday.
Spot Nifty Levels for Trading on Tuesday :
No trade between 5667 and 5704(To avoid whipsaws)
Buy above 5704 sl of 5684
targets 5723-5742(add positions, breakout on the upside),
5761-5780-5799-5818-5837.
Sell below 5667 sl of 5687
targets 5648-5629(add positions,breakout on the downside)
5610-5591-5572-5553-5534.
Happy Trading !!!
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