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Nifty macro view as per weekly chart :- last weekly candle is ended making spinning top indicating for dilemma in traders , zone is bullish ,up or down both moves may be there as per candle but profit booking has already been started on Friday so looking down to 5850 5700 before expiry .
Daily chart is indicating that 5850 5740 5560 are supports and 6100 is resistance , 5850 must hold nifty for expiry day if 5850 will break then 5740 may hold below that free fall and panic sell off cant be ruled out.
Gap down opening of 1 to 1.5% is expected with bearish sentiments . possibility of choppy session which may turned in increased volatility but red closing cant be ruled out .
Trade in Nifty Futures as per these levels
Buy at / above: 5971 Targets: 5988 – 6008 – 6027 – 6048
Stoploss : 5955
Stoploss : 5955
Sell at / below: 5955 Targets: 5933 – 5912 – 5893 – 5874
Stoploss : 5971
Stoploss : 5971
Trade according to trend- do not oppose it if you do not know how to swim please do not jump into the river.
Nifty view for Sept month expiry week
