Nifty spot opened at 10160.95 and made a high of 10171.05 , it made a low of 10134.20 , before closing at 10141.15
Had mentioned that long positions for the day can be taken above 10160 and short positions can be taken below 10135 . Nifty triggered our daily long trade at opening and completed just 1 target . It then reversed and just touched our short trigger but did not sustain . Nifty traded mostly between our long and short trigger levels for the day again . Nifty had triggered our weekly long trade this week and completed nearly 4 weekly long targets . Further upmove can be expected on sustaining above 10175 for the week. We can expect this range of 10130 - 10180 to be broken and sustained in the coming session .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10135 to test 10120 - 10115 initially and sustaining below it we can see a test of 10100 - 10090 . Breaking and sustaining above 10160 we can see a bounce till 10175 - 10180 initially and breaking and sustaining above it we can see a test of 10195 - 10205 . " , and we saw Nifty break 10160 but it could not test 10175 - 10180 . Now in the coming session Nifty needs to break and sustain below 10125 to test 10110 - 10105 initially and sustaining below it we can see a test of 10095 - 10080 . Breaking and sustaining above 10155 we can see a bounce till 10170 - 10175 initially and breaking and sustaining above it we can see a test of 10190 - 10200
Nifty Spot Levels for the day are
Long above 10155 for 10165 - 10175 - 10200 , SL 10135
Short below 10125 for 10115 - 10105 - 10080 , SL 10145
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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.