Positional Trade-Sell Nifty Futures with a stop at 5240, 21 Jan

Nifty has broken the crucial short term level of 5235 and trading below that level. If it fails to move above this level, than a correction towards 5080 is likely in another one week's time. Futures traders can short Nifty Futures below 5235 with a stop at 5235 for a target of 5080.

Nifty - Technical Outlook and Intraday Trading Levels, 21 Jan

Today, 5240 is the crucial intraday level for Nifty.

If Nifty sustains below 5240, then it could test 5160 and below that level it could test 5080.

Instead, if Nifty trades above 5240, then it could test 5280.