Nifty spot opened at 10389.50 , it made a high of 10478.60 , it made a low of 10377.85, before closing at 10385
Had mentioned that long positions for the day can be taken above 10460 and short positions can be taken below 10200 . Nifty triggered our long trade after opening but did not complete any target . Nifty then reversed and triggered our short trade and again did not complete any target . Nifty traded between our long and short trigger for the major part of the day . Had mentioned in the previous post " Now in this week Nifty has to sustain / close above 10300 to test 10375 - 10390 initially and above it we can see a move till 10455 - 10530 . Similarly Nifty has to sustain / close below 10155 to test 10080 - 10060 initially and below it we can see a move till 9995 - 9925 .", and Nifty had confirmed our weekly longs and completed 5 weekly long targets today . Now sustaining above 10390 in the coming session we can again see a move till 10455 - 10530 .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10460 to test 10495 - 10505 initially and sustaining above it we can see a further upmove till 10540 - 10575. Similarly breaking and sustaining below 10385 we can see a test of 10345 - 10335 initially and breaking and sustaining below it we can see a further correction till 10305 - 10265. " , and Nifty made a high of 10478.60 and a low of 10377.85 and traded sideways being unable to sustain on either side .
Had mentioned once March began that " Now for the month of March ,Nifty longs will get confirmed with a consecutive close above 10635 for a initial target of 10780 - 10820 and sustaining / closing above it we can see a further test of 10950 - 11090 . Similarly , shorts will get confirmed with a consecutive close below 10350 for a initial target of 10205 - 10165 and sustaining / closing below it we can see a further test of 10040 - 9900 ." , and today Nifty made a low of 10141.55 and completed our initial short targets for the month . Now closing / sustaining below 10165 is needed for further correction till 10040 - 9900 . As mentioned in the previous post " Nifty has immediate resistance near 10455 - 10485 . , and today Nifty took resistance in the mentioned zone and gave a intraday dip of nearly 100 points .
Now in the coming session Nifty needs to break and sustain above 10465 to test 10500 - 10510 initially and sustaining above it we can see a further upmove till 10545 - 10580. Similarly breaking and sustaining below 10390 we can see a test of 10350 - 10340 initially and breaking and sustaining below it we can see a further correction till 10310 - 10275.
Nifty Spot Levels for the day are
Long above 10465 for 10485 - 10510 - 10580 , SL 10415
Short below 10390 for 10370 - 10345 - 10275 , SL 10440
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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.