Nifty spot opened at 10682.55 , made a low of 10597.10, it made a high of 10690.40, before closing at 10681.25
Had mentioned that long positions for the day can be taken above 10670 and short positions can be taken below 10635 . It was volatile session where both our long and short trade got triggered . Nifty triggered our long short trade and took our stoploss . Nifty then triggered our short trade and completed 2 target and took our TSL . Nifty again triggered our long trade and completed 1 target .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10635 to test 10615 - 10610 initially and sustaining below it we can see a further correction till 10595 - 10575 . Similarly breaking and sustaining above 10670 we can see a test of 10690 - 10695 initially and breaking / sustaining above it we can see a further move till 10710 - 10725 . " , and Nifty made a low of 10597.10 just above our next support and made a high 10690.40 at our initial resistance .
Had mentioned in the previous post " Nifty has now given a consecutive close above 10615 and confirmed monthly longs for a initial test of 10700 - 10720 . Though Nifty has given a consecutive close its also important for Bank Nifty to sustain and give a close above its monthly long levels else Nifty might not be able to sustain above the confirmation levels just like it was not able to sustain below its short levels . So in the coming sessions we need Bank Nifty to sustain above 25760 levels for the next move upwards " , and Nifty is nearing our initial range of 10700 - 10720 even though Bank Nifty is yet to break and sustain / close above 25760 . Sustaining / closing above 10720 can see a test of 10795 - 10875 .
Now in the coming session Nifty needs to break and sustain below 10670 to test 10660 - 10655 initially and sustaining below it we can see a further correction till 10650 - 10640. Similarly breaking and sustaining above 10690 we can see a test of 10700 - 10705 initially and breaking / sustaining above it we can see a further move till 10710 - 10720 .
Nifty Spot Levels for the day are
Long above 10690 for 10697 - 10705 - 10720 , SL 10678
Short below 10670 for 10665 - 10658 - 10640 , SL 10684
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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.