The short-term trend in Nifty Future is still positive and now has a resistance at 10225 and 10248. The inability of it to cross 10248 will confirm that short-term top is in place and it is heading towards 9695 levels. A close above 10248 will indicate that the uptrend is likely to resume with an initial target of 10334 and10377 region.
The day traders can buy Nifty future above 10190 with a stop loss of 10158 for a target of 10224 and 10248 and sell it below 10150 with a stop loss of 10170 for a target of 10071.
The Positional traders can initiate a long position above 10190 with a stop loss of 10149 for a target of 10334-10377 region. Square up the long position it faces resistance at 10225-10248 levels for and again buys above 10250. Sell it below 10149 with a stop loss of 10190 for the entire week for a target of 10004 & 9970.
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