Nifty futures after whipsawing over the yesterday's close finally close in green at 5414.30. The high of the day was at 5425 and low was at 5250. The range between 5250 to 5500 will be consolidation zone. As when breakout is witnessed the resistance on the upside will be 5750 and for the downside will be 5000. Trend players can watch the breakout direction. The monthly levels show pivot at 5395 with resistance at 5571 and support at 5218.
Nifty futures 4 hourly MM levels show the 5313 pivot sustained for the day and target seems to be at 5469. For tomorrow the 5313 to 5469 will be positive zone and breakout will be above 5469. Below 5313 negative sentiments will prevail with targets on downside at 5157.
The hourly chart for futures with awesome shows some green at the end of the day. Indicator are supporting the price at end of day. We have bounced back from the channel bottom and need to cross the 5500 resistance. Use 5400 as pivot with resistance at 5475 and support at 5325 for this time frame.
Spot Nifty Levels for Trading on Friday :
No trade between 5390 and 5427(To avoid whipsaws)
Buy above 5427 sl of 5407
targets 5446-5465(add positions, breakout on the upside),
5484-5503-5522-5541-5560.
Sell below 5390 sl of 5410
targets 5371-5352(add positions,breakout on the downside)
5333-5314-5295-5276-5257.
Happy Trading !!!
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