As I wrote last week, Nifty did rally well achieving 3 targets - 5250/5280/5300. It closed a strong week and is now closed above all the short term resistance.
This week Nifty shall extend its rally and will show 5350/5380/5410/higher levels.
It has good support this week at -5280/5230. In immediate near future, 5230 remains the base level for spot Nifty. Long positions must be taken at all times in the current week.
I recommend buying Nifty futures, May series, (close 5340) with a target of 5420/higher and SL 5300 on closing basis.
Also 5300 May call for Nifty can be bought (Close 150) for a target of 300 with a closing basis SL @ 100.
This week Nifty shall extend its rally and will show 5350/5380/5410/higher levels.
It has good support this week at -5280/5230. In immediate near future, 5230 remains the base level for spot Nifty. Long positions must be taken at all times in the current week.
I recommend buying Nifty futures, May series, (close 5340) with a target of 5420/higher and SL 5300 on closing basis.
Also 5300 May call for Nifty can be bought (Close 150) for a target of 300 with a closing basis SL @ 100.
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