In the previous session :
Nifty went up by 81 points and closed higher by 73 points from Friday's close .
Nifty made a life time high of 12337.75 on 13th January and now it needs to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue else we can again see some profit booking and short selling from these levels .
- As per levels given for 13th Jan, Nifty triggered our long trade with a gap up and gave 30 points.
For 14th Jan :
Sustaining above 12375 enter for 12400 - 12430 - 12515
Sustaining below 12285 enter for 12260 - 12230 - 12145
How to use these levels
- Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels.
For this month :
- Nifty longs will get confirmed with a consecutive close above 12305 for a initial target of 12445 - 12480 and sustaining / closing above 12480 we can see a further move till 12600 - 12735 .
- Nifty shorts will get confirmed with a consecutive close below 12035 for a initial target of 11895 - 11855 and sustaining / closing below 11855 we can see a further move till 11735 - 11600 .
- Now Nifty has to give a strong close above 12375 for the upward momentum to continue.
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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.
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