Yesterday we had mentioned that Nifty can test 7723 on downside and Nifty did exactly the same by opening at 7737 and making a low of 7723.35 . We had also mentioned that on the upside Nifty can test 7885 - 7900 and Nifty made a high of 7882.9 and gave a close at 7845.95.
Those who would have gone long at 7723 , would have got nearly 150 points on the swing trade in Nifty today.
Tomorrow is the last day of this current series and should be a action packed day again.
As per today’s close if Nifty spot opens gap up, then it will face resistance near 7860 – 7890 initially and breaking above that next resistance at 7920 - 7935 can get tested . Similarly if
Nifty spot opens gap down then it will get support near 7832 – 7802 levels initially and breaking below that next support at 7773 - 7758 can get tested .
Reversal Point for Nifty Spot tomorrow is at 7891 & for Bank Nifty Spot at 17015 which should be watched by traders.
VIX has closed back at 20.68 and PCR is at 1.05
Expiry Range tomorrow for Nifty is 7760 – 7930
Levels for tomorrow are
Long above 7864 for 7917 – 7934 – 7952 , SL 7828
Short below 7828 for 7775 – 7757 – 7740 , SL 7864
Bank Nifty Spot
Long above 17360 for 17442 – 17547 – 17652 , SL 17150
Short below 17150 for 17069 – 16964 – 16859 , SL 17360
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Disclaimer : These are my personal views and trades taken on them should be done with a strict SL