Nifty spot opened at 10175.60 and made a high of 10178.95 , it made a low of 10129.95 , before closing at 10147.55
Had mentioned that long positions for the day can be taken above 10170 and short positions can be taken below 10135 . Nifty triggered our daily long trade at opening but could not complete any targets . It then triggered our short trade and again could not complete any targets . Nifty traded mostly between our long and short trigger levels for the day . Nifty had triggered our weekly long trade this week and completed nearly 4 weekly long targets . Further upmove can be expected on sustaining above 10175 for the week.
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10135 to test 10120 - 10115 initially and sustaining below it we can see a test of 10105 - 10085 . Breaking and sustaining above 10170 we can see a bounce till 10185 - 10190 initially and breaking and sustaining above it we can see a test of 10205 - 10220 . " , and we saw Nifty break both 10135 and 10170 but not being able to sustain ether today indicating indecisiveness . Now in the coming session Nifty needs to break and sustain below 10135 to test 10120 - 10115 initially and sustaining below it we can see a test of 10100 - 10090 . Breaking and sustaining above 10160 we can see a bounce till 10175 - 10180 initially and breaking and sustaining above it we can see a test of 10195 - 10205
Nifty Spot Levels for the day are
Long above 10160 for 10170 - 10180 - 10205 , SL 10143
Short below 10135 for 10125 - 10115 - 10090 , SL 10152
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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.