Nifty spot opened at 10291.80 and made a low of 10271.95 , it made a high of 10355.65, before closing at 10343.80 .
Had mentioned that long positions for the day can be taken above 10315 and short positions can be taken below 10275. Nifty triggered our short trade and reversed to take our SL . It then triggered our long trade and completed 2 targets on the long side . Nifty had confirmed our weekly long on closing in the previous sessions and today we saw it missour last target by 18 points . So far it has given us 140 points from the weekly long trade by completing 5 targets .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10275 to test 10255 - 10245 initially and sustaining below it we can see a further correction till 10230 - 10210 . Breaking and sustaining above 10315 we can see a bounce till 10340 - 10345 initially and breaking and sustaining above it we can see a further move till 10360 - 10380" , and today we saw Nifty make a lot of 10271.95 and reverse immediately and make a high of 10355.65 just above our initial resistance level of 10340 - 10345 and close within it too.
Now in the coming session Nifty needs to break and sustain below 10325 to test 10305 - 10300 initially and sustaining below it we can see a further correction till 10285 - 10270. Similarly breaking and sustaining above 10365 we can see a test of 10380 - 10385 initially and sustaining above it we can a further move till 10400 - 10420 .
Nifty Spot Levels for the day are
Long above 10365 for 10375 - 10385 - 10420 , SL 10340
Short below 10325 for 10315 - 10305 - 10270 , SL 10350
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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.Nifty