Nifty spot opened at 11079.35 , it made a low of 11075.95 , it made a new lifetime high of 11171.55 , before closing at 11130.40 .
Had mentioned that long positions for the day can be taken above 11090 and short positions can be taken below 11050 . Nifty triggered our long trade and completed all 3 targets giving 60 points . Nifty today reversed from just before our initial weekly resistance zone of 11175 - 11190 but gave a close above our weekly long confirmation level . Nifty now needs to hold above 11055 to see a retest of its highs tomorrow .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 11090 to test 11110 - 11115 initially and sustaining above it we can see a further upmove till 11135 - 11150 . Similarly breaking and sustaining below 11050 we can see a test of 11030 - 11025 initially and breaking and sustaining below it we can see a further correction till 11010 - 10990 . " , and Nifty made a high of 11171.55 and completed all our targets .
Now in the coming session Nifty needs to break and sustain above 11150 to test 11170 - 11175 initially and sustaining above it we can see a further upmove till 11195 - 11215. Similarly breaking and sustaining below 11110 we can see a test of 11090 - 11085 initially and breaking / sustaining below it we can see a further correction till 11070 - 11050 .
Nifty Spot Levels for the day are
Long above 11150 for 11160 - 11175 - 11215 , SL 11125
Short below 11110 for 11100 - 11085 - 11050 , SL 11136
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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.