Nifty spot opened at 9864.25 and made a high of 9884.35 , it made a low of 9740.10, before closing at 9754.35
Had mentioned that long positions for the day can be taken above 9865 and short positions can be taken below 9810 . Nifty triggered our long trade but not complete any target and took our SL . It then triggered our short trade and completed 2 targets for the day . Nifty also closed below our weekly short confirmation level after reversing from near our weekly long trigger level of 9885 after opening .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9810 to test 9780 - 9770 initially and sustaining below it we can see a test of 9750 - 9720. Breaking and sustaining above 9865 we can see a bounce till 9895 - 9905 initially and breaking and sustaining above it we can see a test of 9925 - 9955 " , and we saw Nifty make a low of 9740.10 near our next support zone on breaking below 9810 Nifty had broken above 9865 but reversed from our weekly long confirmation level . Now in the coming session Nifty needs to break and sustain below 9725 to test 9695 - 9690 initially and sustaining below it we can see a test of 9665 - 9635 . Breaking and sustaining above 9785 we see a bounce till 9815 - 9820 initially and breaking and sustaining above it we can see a test of 9845 - 9875 .
Nifty Spot Levels for the day are
Long above 9785 for 9800 - 9820 - 9875 , SL 9745
Short below 9725 for 9710 - 9690 - 9635 , SL 9765
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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.