Nifty has bounced back smartly with huge gains on Friday for a dream close after a weak expiry in March.Nifty had crossed the 5300 level and closed just shade below it at 5295.55.The daily chart show how nifty was held by the bollinger bands and now it is at the centre level of the bands.Crossing of this level of 20 DMA of will face resistance at 5342 on spot nifty.Nifty should cross this level of 5342 to build the momentum further.The Stochastics Indicator and Force Index are at borderline and need to move up higher to impart strength to this move.Intraday traders can look at the levels givens below on spot nifty to trade on Monday...
No trade between 5280 and 5317(to avoid whipsaws)
Buy above 5317 with SL of 5297
for targets of 5335-5353(breakout level on the upside,add positions) 5381-5398-5416-5434-5452-5470.
Sell below 5280 with SL of 5300
for targets of 5262-5246(breakdown level on downside, add positions)5228-5210-5192-5174-5156-5138.
Happy Trading !
sir ur levels r very good.....i appreciat.....but sir one confusing... exampl if any day ur buy level abv 5400 & similarly sell level 5350 below...if that day nifty open ur buy abv level above near 5365 ...... so then how i do..... i wait or buy ????? plss sir i waiting ur answar....our those level u provided should level sustaing then i buy aur i put order as a premarket???
ReplyDeleteHi,
ReplyDeleteYou may buy as and when level come if they are above or below the range do not trade wait for next day...
Regards
K B Raut