Nifty spot opened at 9875.25 and made a low of 9813 , it made a high of 9891.35, before closing at 9871.50 .
Had mentioned that long positions for the day can be taken above 9895 and short positions can be taken below 9850 . Nifty triggered our daily short trade and completed 2 short targets giving 30 points . Nifty had also triggered our weekly shorts on Monday and completed 4 weekly short targets giving 100 points . As mentioned in the previous post "Further correction can be expected on sustaining / closing below 9815 as per weekly levels " and Nifty again took support near it today . Also as mentioned in the previous post " The broader range for a bigger move to come is 10040 - 10180 and breaking and sustaining beyond this range is required for a better move " , and we saw Nifty correct by nearly 200 points on breaking and sustaining below 10040 and now it needs to sustain / close below 9815 for further correction till 9690 . Holding the same we can see a move till 9960 - 10040 .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9850 to test 9825 - 9820 initially and sustaining below it we can see a test of 9800 - 9775 . Breaking and sustaining above 9895 we can see a bounce till 9920 - 9925 initially and breaking and sustaining above it we can see a test of 9945 - 9970 . " , and we saw Nifty make a low of 9813 on sustaining below 9850 today . Now in the coming session Nifty needs to break and sustain below 9850 to test 9825 - 9820 initially and sustaining below it we can see a test of 9800 - 9775 . Breaking and sustaining above 9895 we can see a bounce till 9920 - 9925 initially and breaking and sustaining above it we can see a test of 9945 - 9970
Nifty Spot Levels for the day are
Long above 9895 for 9910 - 9925 - 9970 , SL 9865
Short below 9850 for 9835 - 9820 - 9775 , SL 9880
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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.