We see Nifty to be Range Bound in 5030 to 5160. Eariler, We told that breaking either sides can make a very Sharp Movement. Technically, We seen Nifty in Overbought Zone on 3rd and 4th June Trading Pattern. Nifty faced difficuilty near Strong Resistance 5130.
As far as Nifty hold 4986, it may bounce back till 5204, and that’s why we suggest you to avoid shorting in gap down opening near strong support 5050.
Be very careful in buying, use strict stop loss and wait for Nifty to cross 5080 level with good volume then only buy for intraday swing.
Resistances : 5080-5110-5130 (Bold Indicates Strong Resistance)
Supports : 5050-5024-5000 (Bold Indicates Strong Support)
Todays PreMarket Trade:
Nifty may open gap down due to international market...
Uptrend
Buy around 5086 StopLoss 5058
1st Target 5110 and 2nd Target 5126
Downtrend
Sell Below 5042 with StopLoss 5058
1st Target 5024 2nd Target 5008
Nifty if sustain below 5008 for 5-minutes than 3rd Target 4992.
But if it is not breaking 5000 We will see a very sharp upside movment.
So...Risky Traders are advised to
Buy at 5008 with StopLoss 4986
1st Target 5024 2nd Target 5042
We see Nifty close today near 5050-5070 levels
:: Be Alert ::
Safe Traders Please Avoid Intraday Trading Due To Huge Volatile Market Session.
Still New traders can Enter Above/at 5080 LEVEL for Target 5374 with SL 4948 in June Expiry...
:: Remember Always ::
We suggest to keep at least 1% of its price as Stop Loss in All Equity Stocks.
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