Nifty Intraday Levels & Trading Strategy for 24-Dec

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Today it was a soften day for the Indian Stock Market which traded within a narrow range bound limit of 25-30 points with low volumes. Markets opened on a subdued note, traded with choppiness in a narrow range and finally closed in red.

On the basis of daily chart and reports, we are witnessing narrow range body formation for two consecutive trading sessions where prices have managed to close above the 5 days EMA. For intraday trading tomorrow, if indices trade convincingly above 20,050 / 6,000 level then they are likely to test 20090-20185 / 6025-6040 level while on the downside if they fails to trade above this levels then 19740-19670 / 5960-5928 levels may act as supports for the day.

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