Nifty spot opened at 9643.25 , made a high of 9647.65 and then made a low of 9565.30 before closing at 9574.95
Had mentioned that long positions for the day can be taken above 9643 and short positions for the day can be taken below 9617 . Nifty triggered our short trade and completed all our daily targets .
A bigger correction can be expected only if Nifty breaks and sustains below 9335 - 9355 zone where there is a strong support for now . As have been mentioning " Nifty has its immediate resistance near 9650 - 9670 zone and above that near 9750 - 9770 zone " Had mentioned in the previous posts " Those who are looking to go long here can keep a strict cbsl of 9560 spot " , and we saw a move of 130+ points after making a low of 9560.80 last week and holding our cbsl . Now again holding 9560 on closing Nifty can again make a attempt to retest the high made this month . Also as mentioned previously too " Now again sustaining above 9650 - 9670 levels in the coming sessions we can expect Nifty to move up towards a new high " . Once Nifty breaks and sustains below 9560 we can expect a further correction towards the next support levels at 9500 - 9480 .
For today if Nifty spot sustains above 9588 we can see a initial move on the upside till 9601 & on sustaining above 9604 we may see further move till 9629 . Similarly if Nifty spot sustains below 9560 we may see a initial move on the downside till 9549 & on sustaining below 9545 we may see a further move till 9521
Nifty Spot Levels for the day are
Long above 9588 for 9595 - 9604 - 9629 , SL 9571
Short below 9560 for 9554 - 9545 - 9521 , SL 9579
If you want to see the post in your Inbox , kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.
Disclaimer : These are my personal views and one should do their own research before entering any trades based on them . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.