Nifty futures opened flat recovered for the day and at the end of it gave away the gains to close in negative at 5936.50. The level of 5992 was touched intraday but was not sustained further. The support level of 5910 was not touched as the low was at 5921 today. So between these two levels we are in sideways trend. Above 5992 we may see recovery for futures and below 5910 the downward trend may continue. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.
Spot Nifty Levels for Trading on Wednesday :
No trade between 5900 and 5939(To avoid whipsaws)
Buy above 5939 sl of 5919
targets 5958-5977(add positions, breakout on the upside),
5996-6105-6134-6153-6172.
Sell below 5900 sl of 5920
targets 5881-5862(add positions,breakout on the downside)
5843-5824-5805-5786-5767.
Happy Trading !!!
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