Nifty Future hit its projected target of 11111 to a fresh high of 11114.9 and reversed quickly. But the pace of decline and its retracement indicates that the upside journey for this wave is not yet complete and may rise to the next target of 10297 in next week.
The day traders can buy it above 11115 with a stop loss of 11074 for the target of 11179-11200 region and sell it below 11039 with a stop loss of 11082 for the target of 10999 and 10956.
The positional traders who are still holding long position can move the stop loss to 10995 for the target of 10297. The traders who have exited from a long position may act as a day trader for today.
The day traders can buy it above 27400 with a stop loss of 27299 for the target of 27735.
The positional traders can move the stop loss of the long position they are holding to 27138 on a closing basis for the target of 28150 and 28400.
Please do not trade for first 15 minutes in both Nifty Future as well as Bank Nifty future.
For further trades or queries,
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