Nifty spot opened at 10139.60 and made a high of 10158.90 , it made a low of 10058.60, before closing at 10121.90 .
Had mentioned that long positions for the day can be taken above 10155 and short positions can be taken below 10125 . Nifty triggered our daily long trade initially and took our stoploss . It then triggered our short trade and completed all our short targets 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. Today Nifty tested our weekly short trigger level of 10060 with the day low and immediately revered .We were expect this narrow range of 10130 - 10180 to be broken and sustained , and today it broke on the downside . The broader range for a bigger move to come is 10040 - 10180 and breaking and sustaining beyond this range is required for a better move .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10125 to test 10110 - 10105 initially and sustaining below it we can see a test of 10095 - 10080 . Breaking and sustaining above 10155 we can see a bounce till 10170 - 10175 initially and breaking and sustaining above it we can see a test of 10190 - 10200 . " , and we saw Nifty make a low of 10058.60 on sustaining below 10125 . Now in the coming session Nifty needs to break and sustain below 10105 to test 10090 - 10085 initially and sustaining below it we can see a test of 10070 - 10055 . Breaking and sustaining above 10140 we can see a bounce till 10155 - 10160 initially and breaking and sustaining above it we can see a test of 10170 - 10185
Nifty Spot Levels for the day are
Long above 10140 for 10150 - 10160 - 10185 , SL 10115
Short below 10105 for 10095 - 10085 - 10055 , SL 10130
If you want to see the post in your Inbox , kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.
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.