Nifty spot opened at 10345.65 and made a high of 10373.10 , it made a low of 10319.65 , before closing at 10333.25
Had mentioned that long positions for the day can be taken above 10280 and short positions can be taken below 10225 . Nifty opened gap up near our last target for the day and did not give a chance to enter . As mentioned earlier " Nifty has resistance in the coming sessions near 10330 - 10350 zone and for a further upmove we need a consecutive close above 10330 . 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 ." , and Nifty needs to give a consecutive close above 10330 on Monday and Bank Nifty should give a close above 25655 to support . Nifty has its next resistance near 10455 - 10465 as mentioned in the weekly post and once we get a close above it we can see 10550 - 10650 too .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10225 to test 10195 - 10190 initially and sustaining below it we can see a further correction till 10165 - 10140 . Similarly breaking and sustaining above 10280 we can see a test of 10310 - 10315 initially and breaking / sustaining above it we can see a further move till 10340 - 10365 . " , and today Nifty crossed our next resistance zone with a high of 10373.10 .
Now in the coming session Nifty needs to break and sustain below 10305 to test 10275 - 10270 initially and sustaining below it we can see a further correction till 10240 - 10215. Similarly breaking and sustaining above 10365 we can see a test of 10390 - 10400 initially and breaking / sustaining above it we can see a further move till 10425 - 10455 .
Nifty Spot Levels for the day are
Long above 10365 for 10380 - 10400 - 10455 , SL 10325
Short below 10305 for 10290 - 10270 - 10215 , SL 10345
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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.