Nifty spot opened at 10094.35 and made a high of 10095.05 , it made a low of 9952.80, before closing at 9964.40 .
Had mentioned that long positions for the day can be taken above 10140 and short positions can be taken below 10105 . Nifty triggered our daily short trade and completed all our daily short targets . Nifty then triggered our weekly shorts and completed 5 weekly short targets giving 100 points . Nifty had initially triggered our weekly long trade and completed 4 targets on the long side and had mentioned " Further upmove can be expected on sustaining above 10175 for the week." , and Nifty had failed to close sustain close above 10175 after coming close to it 3 times . We were expect this narrow range of 10130 - 10180 to be broken and sustained , and it had broken it on the downside in the previous session . Also as mentioned in the previous post " 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 " , and we saw Nifty correct by nearly 90 points on breaking and sustaining below 10040 and as long as it sustains below it this week can expect some more correction .
Had mentioned in the previous post " 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 . " , and we saw Nifty make a low of 9952.80 on sustaining below 10105 as even our weekly shorts got confirmed on sustaining below 10045 . Now in the coming session Nifty needs to break and sustain below 9940 to test 9915 - 9900 initially and sustaining below it we can see a test of 9885 - 9860 . Breaking and sustaining above 9990 we can see a bounce till 10015 - 10020 initially and breaking and sustaining above it we can see a test of 10045 - 10070
Nifty Spot Levels for the day are
Long above 9990 for 10005 - 10020 - 10070 , SL 9955
Short below 9940 for 9925 - 9910 - 9860 , SL 9975
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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.