Though Nifty Future opened firm this morning, it could not sustain at higher (High of 6075) levels and maintained downward bias throughout the day and by the end of the day broke yesterday's low (Day's low 5990) and closed at 6000 - exactly on the trend line shown on the chart.
Tomorrow one can consider going short below 5990 with stop loss of 6040. Once the trend line is broken, market may see sharp down side and find support at 5940 and 5910.
One should consider trades only above 6045 with stop loss of 6025. On Higher side it will find resistance at 6070 and 6100.
Tomorrow should be an eventful day considering that we have FNO settlement on one side and on the other hand anxiety of Ayodhya Verdict after the market closes. While may the best win between the push and pull of the above events, the traders may find it difficult to be on the right side of the market.
All the best.
All the best.
