Nifty futures had a momentary pause at the start of the week after hitting high of 5990.10. The close at the end of the day was slightly negative at 5951.25. The close is just below the monthly resistance level no 1 of this series at 5956. The level to be watched intraday on downside is 5886 and upside is 6021 for momentum on either side. The observation of Friday are still valid for tomorrow, barring the pause of today. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.
Spot Nifty Levels for Trading on Monday :
No trade between 5923 and 5962(To avoid whipsaws)
Buy above 5962 sl of 5942
targets 5981-6000(add positions, breakout on the upside),
6019-6038-6057-6076-6095.
Sell below 5923 sl of 5943
targets 5904-5885(add positions,breakout on the downside)
5866-5847-5828-5809-5790.
Happy Trading !!!
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