Nifty spot opened at 10428.15 , it made a high of 10428.15 , it made a low of 10355.60, before closing at 10417.15
Had mentioned that long positions for the day can be taken above 10435 and short positions can be taken below 10370 . Nifty triggered our short trade but could not complete any targets .
Now this week Nifty needs to break and sustain / close above 10445 for a test of 10560 - 10590 initially and above it till 10690 - 10800 .Similarly Nifty needs to break and sustain / close below 10220 to test 10105 - 10075 initially and below it till 9975 - 9865 . So far we are trading in a narrow range and we need to see a break of the wider range of 10220 - 10445 for a bigger move .
Now for the month of April ,Nifty longs will get confirmed with a consecutive close above 10315 for a initial target of 10520 - 10575 and sustaining / closing above it we can see a further test of 10750 - 10950 . Similarly , shorts will get confirmed with a consecutive close below 9915 for a initial target of 9705 - 9655 and sustaining / closing below it we can see a further move till 9475 - 9275 . Nifty has confirmed our monthly longs and we can see a test of 10520 - 10575 initially .
Now in the coming session Nifty needs to break and sustain above 10450 to test 10485 - 10495 initially and sustaining above it we can see a further upmove till 10525 - 10555. Similarly breaking and sustaining below 10385 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 10450 for 10470 - 10495 - 10555 , SL 10405
Short below 10385 for 10365 - 10340 - 10275 , SL 10425
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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.