Nifty spot opened at 10332.70 and made a high of 10332.70 , it made a low of 10211.25, before closing at 10226.50.
Had mentioned that long positions for the day can be taken above 10372 and short positions can be taken below 10351 . Nifty triggered our intraday short trade at opening and also confirmed our weekly short trade and completed all our daily short targets as well as completed 5 weekly short targets giving 100 points as per the weekly levels . We were expecting Nifty to break the tight range of 10340 - 10440 and we got a good move today on breaking it .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10351 to test 10340 - 10338 initially and sustaining below it we can see a further correction till 10328 - 10318 . Similarly breaking and sustaining above 10372 we can see a test of 10382 - 10385 initially and breaking / sustaining above it we can see a further move till 10395 - 10405 " , and today Nifty made a low of 10211.25 as our weekly short trade also got confirmed .
Now in the coming session Nifty needs to break and sustain below 10205 to test 10190 - 10185 initially and sustaining below it we can see a further correction till 10165 - 10150. Similarly breaking and sustaining above 10245 we can see a test of 10265 - 10270 initially and breaking / sustaining above it we can a further move till 10285 - 10305 . Those who looking to enter fresh shorts on a upmove should keep a cbsl 10330 .
Nifty Spot Levels for the day are
Long above 10245 for 10255 - 10270 - 10305 , SL 10220
Short below 10205 for 10195 - 10185 - 10150 , SL 10235
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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.