Nifty futures opened at 6050 and made a high of 6063.75 and then gave up all the gains of the day to close below 6000 at 5994.40. The low made today was at 5990.30. The pivot of 6028 was broken and below it support is at 5936.50. On futures chart we see the price has come to take support at the bottom of the channel.Also watch the aqua line on the chart breach of which will put the trend in jeopardy. Closing below the pivot is negative for this series. 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 5968 and 6007(To avoid whipsaws)
Buy above 6007 sl of 5987
targets 6026-6045(add positions, breakout on the upside),
6064-6083-6102-6121-6140.
Sell below 5968 sl of 5988
targets 5949-5930(add positions,breakout on the downside)
5911-5892-5873-5854-5836.
Happy Trading !!!
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