Nifty futures are moving in the range of 5930 and 6024 nearly 100 points. So watch for breakout on either side of equal size. Nifty futures have cleared the intermediate level of 5910 and are sustaining above it. The level no 1 resistance is at 6063 which has not been crossed yet and needs to be watched for further clues. Use these levels for trend calculations. On indicators RSI is sideways. MACD is still above the zero level. Only MFI has reversed early and needs to be watched critically. 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 5952 and 5990(To avoid whipsaws)
Buy above 5990 sl of 5970
targets 6009-6028(add positions, breakout on the upside),
6047-6066-6085-6104-6123.
Sell below 5952 sl of 5972
targets 5933-5914(add positions,breakout on the downside)
5895-5876-5857-5838-5819.
Happy Trading !!!
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