Nifty futures is not able to cross the 6000 level for the last three days with the highs at 5993.10, 5993.65 and 5992.45 respectively. The level to watch was 5982 and futures have not been able to sustain above it. The level of 5936.50 is critical at the lower end after we hit 5940.10 as a intraday low today. The monthly support level no 1 is at 5936.50 which was nearly hit today. Those who followed the levels may have made handsome profits above 80 points below the pivot of 6028 as futures were negative below it for last few days. The trades would have sell at higher levels and try to get it as near as possible at the intraday low levels.So for now the range has been between pivot and support no 1. Till futures remain in this range enjoy the trades and take position on breakout on either side. Intraday traders can look at the levels on spot nifty given below.
Spot Nifty Levels for Trading on Friday :
No trade between 5919 and 5957(To avoid whipsaws)
Buy above 5957 sl of 5937
targets 5976-5995(add positions, breakout on the upside),
6014-6033-6052-6071-6090-6109.
Sell below 5919 sl of 5939
targets 5900-5881(add positions,breakout on the downside)
5862-5843-5824-5805-5786.
Happy Trading !!!
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