Nifty spot opened at 10457.30 , made a low of 10448.25 , it made a high of 10501.10 , before closing at 10493 .
Had mentioned that long positions for the day can be taken above 10475 and short positions can be taken below 10420 . Nifty triggered our long trade and completed 2 targets for the day . Nifty had completed 3 weekly long targets giving 75+ points as per the weekly long levels in the previous session and it had to break and sustain above 10485 - 10505 for the next weekly targets and we saw Nifty make a high of 10501.10 . We were expecting Nifty to break the range of 10405 - 10495 in which it was trading for the past few sessions and we saw Nifty break it on the upside . Now that Nifty has closed comfortably above 10455 - 10465 we can see a move till 10550 - 10650 too . For the coming week Nifty has to break and sustain / close above 10550 where it has its next immediate resistance. Bank Nifty has also not been able to sustain above 25655 - 25755 zone or give a consecutive close above 25655 .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10420 to test 10395 - 10390 initially and sustaining below it we can see a further correction till 10370 - 10350 . Similarly breaking and sustaining above 10465 we can see a test of 10485 - 10490 initially and breaking / sustaining above it we can see a further move till 10510 - 10530 . " , and today Nifty made a high of 10501.10 above our initial resistance zone and also closed just above it .
Now in the coming session Nifty needs to break and sustain below 10470 to test 10450 - 10445 initially and sustaining below it we can see a further correction till 10425 - 10405. Similarly breaking and sustaining above 10515 we can see a test of 10540 - 10545 initially and breaking / sustaining above it we can see a further move till 10560 - 10580
Nifty Spot Levels for the day are
Long above 10515 for 10530 - 10545 - 10580 , SL 10485
Short below 10470 for 10460 - 10445 - 10405 , SL 10500
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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.