Nifty Intraday Outlook & Trading Strategy For Tomorrow 24-April

It was choppy start for Indian Equity Markets. Nifty closed with a severe loss of 1.71% to end the day at 5,200. Nifty was unable to maintain the gains of past week once it breached the support of 5,280, it further succumbed to selling pressure to conclude at 5,200 losing 90 points. The short term bullish structure has been negated for the time being as Nifty has broken the low of Friday. In the immediate term now there is a chance of further downside till 5,085 as long as Nifty trades below the level of 5,300. 

Nifty Trading Strategy  For Tomorrow
We recommend an exit from long positions as the trailing stop loss of 5,280 has triggered with a huge margin. Aggressive trades may even go short with a stop loss of 5,300 for a downside till 5,085.

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