Nifty futures have closed the week at 5875.90 after making a high of 5908.75 and made a low of 5822.20 on Friday.The monthly level resistance at 5997 and support levels at 5775 as per the levels given at start of month. The level of 5850 is pivot with resistance at 5950 and supports at 5750.
Futures on 4 hourly are retracing from resistance at 5938 with supports at 5781. Intraday we hit 5823 level nearly 50 points from it. Use 5875 as pivot with targets at 5950-6025 and supports at 5800-5725.
Nifty futures with Awesome on hourly time frame continued with red and finished at neutral levels. Nifty futures could cross not the resistance of 5960 the top green line on chart. The supports are at 5752 the second line from top on charts. Between these range the futures are in sideways. Use 5850 as pivot with targets of 5925 and supports of 5775 for this time frame.
Intraday traders can look at the levels on spot nifty given below to trade on Monday.
Spot Nifty Levels for Trading on Monday :
No trade between 5832 and 5870(To avoid whipsaws)
Buy above 5870 sl of 5850
targets 5889-5908(add positions, breakout on the upside),
5927-5946-5965-5984-6003.
Sell below 5832 sl of 5852
targets 5813-5794(add positions,breakout on the downside)
5775-5756-5737-5716-5695.
Happy Trading !!!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.