Nifty spot opened at 10198.45 and made a low of 10195.25 , it made a high of 10270.85, before closing at 10265.65
Had mentioned that long positions for the day can be taken above 10195 and short positions can be taken below 10140 . Nifty triggered our intraday long trade and missed our last target by 10 points . Nifty has resistance in the coming sessions near 10330 - 10350 zone and for a further upmove we need a consecutive close above 10330 as mentioned in the weekly post too . Those who are holding longs should book once near this zone and look to hold or enter fresh longs only on a consecutive close above it . Those who are intending to go short in the coming sessions near the zone of 10330 - 10350 should keep a cbsl of 10360 .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10140 to test 10110 - 10105 initially and sustaining below it we can see a further correction till 10080 - 10055 . Similarly breaking and sustaining above 10195 we can see a test of 10225 - 10230 initially and breaking / sustaining above it we can see a further move till 10255 - 10280 . " , and today Nifty made a high of 10270.85 within our next resistance zone and also closed within it .
Now in the coming session Nifty needs to break and sustain below 10235 to test 10200 - 10195 initially and sustaining below it we can see a further correction till 10165 - 10135. Similarly breaking and sustaining above 10300 we can see a test of 10330 - 10340 initially and breaking / sustaining above it we can see a further move till 10365 - 10395 .
Nifty Spot Levels for the day are
Long above 10300 for 10315 - 10340 - 10395 , SL 10255
Short below 10235 for 10215 - 10195 - 10135 , SL 10275
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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.