Gap down opening of 40 to 60 Nifty points or 0.8 % is expected with possibility of choppy session and gap filling at later stage .Last week closed at negative note post positive move of three weeks . expected weekly range 5700 – 6000.
Daily chart is indicating consolidating at and above 200 dma few more days stay at 5800 level can’t be ruled out .Nifty is playing at traders action zone .looking up ;
Trade in Nifty futures as per these levels
Buy at / above: 5838 Targets: 5854 – 5874 – 5893 – 5912
Stoploss : 5814
Sell at / below: 5814 Targets: 5797 – 5778 – 5759 – 5740
Stoploss : 5833
Bears may dominate only if nifty will trade below 5800 for 2 to 3 sessions .
Gap down opening on last day of month
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