Nifty spot opened at 10229.30 and made a low of 10141.55 , it made a high of 10276.10, before closing at 10252.10
Had mentioned that long positions for the day can be taken above 10225 and short positions can be taken below 10160 . Nifty initially triggered our intraday short trade and completed just 1 target and took our TSL . It then recovered sharply and triggered our intraday long trade and completed our 2nd target .Nifty has resistance in the coming sessions near 10330 - 10350 zone and for a further upmove we need a consecutive close above 10330 as mentioned in the weekly post too . Those who are holding longs should book once near this zone and look to hold or enter fresh longs only on a consecutive close above it . Those who are intending to go short in the coming sessions near the zone of 10330 - 10350 should exit if Nifty sustains / closes above 10360. Nifty nearly completed 3 initial targets as per weekly shorts before taking the TSL today .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10160 to test 10130 - 10125 initially and sustaining below it we can see a further correction till 10100 - 10070 . Similarly breaking and sustaining above 10225 we can see a test of 10255 - 10260 initially and breaking / sustaining above it we can see a further move till 10285 - 10315 . " , and today Nifty failed to test our initial support on sustaining below 10160 and made a high of 10276.10 above our initial resistance zone .
Now in the coming session Nifty needs to break and sustain below 10225 to test 10195 - 10190 initially and sustaining below it we can see a further correction till 10165 - 10140. Similarly breaking and sustaining above 10280 we can see a test of 10310 - 10315 initially and breaking / sustaining above it we can see a further move till 10340 - 10365 .
Nifty Spot Levels for the day are
Long above 10280 for 10295 - 10315 - 10365 , SL 10245
Short below 10225 for 10210 - 10190 - 10140 , SL 10260
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.