Nifty future is still in the uptrend and is refusing to break down in spite of the fact that most of the indicators and oscillators indicate the weakness in the rally.I have not given a short recommendation yet and will wait for the close below 10253 for initiating a positional short position.A close above 10377 will mean that the rally will continue up to 10681.
The day traders can buy above 10390 with a stop loss of 10356 for a target of 10434 and 10461 and sell it below 10345 with a stop loss of 10371 for a target of 10302 and 10275.
The positional long can be initiated if it closes above 10390 with the stop loss of 10344 for the target of 10681.
For further trades or queries,
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