Nifty spot opened at 9920.60 and made a high of 9921.05 , it made a low of 9714.40, before closing at 9735.70 .
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 long trade by opening near our 2nd long target and did not give a good entry and took the stoploss for longs . Nifty then triggered our short trade for the day and completed all short targets giving 75 points . Nifty had also triggered our weekly shorts on Monday below 9925 and today again reversed from there after the gap up opening and completed our 5th weekly short targets giving 150 points . As mentioned in the previous post "Further correction can be expected on sustaining / closing below 9815 as per weekly levels " and today Nifty corrected another 100 points on sustaining below it . We were expecting a test of 9690 below it and we came close to it by making a low o 9714.40 today . Now for further correction Nifty needs to break and sustain / close below 9690 for a test of 9615 - 9575 . Holding 9690 we can see a test of 9770 - 9830 initially.
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 9714.40 on sustaining below 9850 today as below 9815 our further shorts for the week got confirmed . Now in the coming session Nifty needs to break and sustain below 9710 to test 9685 - 9675 initially and sustaining below it we can see a test of 9650 - 9625 . Breaking and sustaining above 9765 we can see a bounce till 9790 - 9800 initially and breaking and sustaining above it we can see a test of 9820 - 9845
Nifty Spot Levels for the day are
Long above 9765 for 9780 - 9800 - 9845 , SL 9725
Short below 9710 for 9695 - 9675 - 9625 , SL 9745
Expiry Range for September series is
Upper End - 9805
Lower End - 9665
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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.