Nifty spot opened at 10414.80 and made a low of 10406 , it made a high of 10472.20, before closing at 10463.20
Had mentioned that long positions for the day can be taken above 10420 and short positions can be taken below 10360 . Nifty triggered our long trade for the day and completed 2 targets giving around 35+ points as per the daily levels . Nifty had triggered our weekly long trade at close yesterday and today confirmed it and completed 3 weekly long targets giving 75+ points as per the weekly long levels . Had mentioned in the previous post that " Nifty needs to give a consecutive close above 10330 on Monday and Bank Nifty should give a close above 25655 to support . Nifty has its next resistance near 10455 - 10465 as mentioned in the weekly post and once we get a close above it we can see 10550 - 10650 too . " , and today we saw Nifty make a high of 10472.20 and close just below the immediate resistance zone . Bank Nifty has also given a close above 25655 today and again it has to sustain above 25655 - 25755 zone in the coming session for Nifty also to sustain above 10455 - 10465 and make a move towards the next targets of 10550 - 10650.
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10360 to test 10330 - 10325 initially and sustaining below it we can see a further correction till 10300 - 10270 . Similarly breaking and sustaining above 10420 we can see a test of 10450 - 10455 initially and breaking / sustaining above it we can see a further move till 10480 - 10510 . " , and today Nifty made a low of 10472.20 below the next resistance zone .
Now in the coming session Nifty needs to break and sustain below 10435 to test 10410 - 10405 initially and sustaining below it we can see a further correction till 10385 - 10360. Similarly breaking and sustaining above 10490 we can see a test of 10515 - 10520 initially and breaking / sustaining above it we can see a further move till 10545 - 10565.
Nifty Spot Levels for the day are
Long above 10490 for 10505 - 10520 - 10565 , SL 10455
Short below 10435 for 10425 - 10405 - 10360 , SL 10470
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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.