Nifty spot opened at 10263.70 and made a high of 10272.70 , it made a low of 10108.55, before closing at 10121.80.
Had mentioned that long positions for the day can be taken above 10245 and short positions can be taken below 10205 . Nifty initially triggered our intraday long trade by opening near our 2nd long target and took our TSL . It then triggered our short trade for the day and completed all short targets for the day giving 55 points as per levels even bettered it by a further 40 points . We were expecting Nifty to break the tight range of 10340 - 10440 and we have got a good move of nearly 230 points on breaking the range on the downside .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10205 to test 10190 - 10185 initially and sustaining below it we can see a further correction till 10165 - 10150 . Similarly breaking and sustaining above 10245 we can see a test of 10265 - 10270 initially and breaking / sustaining above it we can see a further move till 10285 - 10305. Those who are looking to enter fresh shorts on a upmove should keep a cbsl of 10330 " , and today Nifty made a low of 10108.55 after the small gap up opening we got .
Now in the coming session Nifty needs to break and sustain below 10100 to test 10080 - 10070 initially and sustaining below it we can see a further correction till 10055 - 10030. Similarly breaking and sustaining above 10145 we can see a test of 10165 - 10170 initially and breaking / sustaining above it we can a further move till 10190 - 10215 . Those who are holding shorts from last week should keep a trailing cbsl of 10180 for their positions .
Nifty Spot Levels for the day are
Long above 10145 for 10160 - 10175 - 10215 , SL 10115
Short below 10100 for 10085 - 10070 - 10030 , SL 10130
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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.