Our conflict of interest for a bias to trade today has been resolved with the market choosing point 3 in the update of yesterday
The chart was for the Nifty spot against the regular NF chart which we generally put out, but it was intersting to note that NF was at 5935 yesterday in the afternoon when spot hit 5900 and 5916 this morning when it did the same.
Regardless, we trade off the chart we see and our levels still are good irrespective off the movement of the spot v/s the future. At 12.30 Nf is trading at 5890, having hit 5880 off the weakness we mentioned would come below 5932 today.
The chart is annotated and self explanatory.
The point of interest would be to see if there is a visit to 5960 and to check for evidence of responsive buying there.
Above 5905, we will see day highs again.
