Nifty future took the support of the lower boundary of the Keltner channel and is trading above it.In the 60-min chart, the RSI is showing a positive divergence and the Stochastic Oscillator is rising indicating that this corrective up move can last longer and will face resistance at 10179 and 10197.
The day traders can buy it above 10147 with a stop loss of 10119 for the target of 10197 and sell it below 10125 with a stop loss of 10145 for the target of 10044 and 10115.
The positional traders, maintaining short position should keep the stop loss of 10221 for the target of 9695.
Please do not trade for first 10 minutes of the day.
For further trades or queries,
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