Nifty spot opened at 10512.30 , made a low of 10477.95 , it made a high of 10545.45 , before closing at 10531.50 .
Had mentioned that long positions for the day can be taken above 10515 and short positions can be taken below 10470 . Nifty triggered our long trade and completed 2 targets for the day . Nifty also triggered our weekly longs at close but we need it to sustain / close above 10550 to confirm longs for the week . Had mentioned in the previous post " Now that Nifty has closed comfortably above 10455 - 10465 we can see a move till 10550 - 10650 too . For the coming week Nifty has to break and sustain / close above 10550 where it has its next immediate resistance. " , and today Nifty nearly tested the lower end of the range with a high of 10545.45 . Bank Nifty has today closed within 25655 - 25755 zone and it needs to give a consecutive close above 25655 or sustain above 25820 for further upmove .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10470 to test 10450 - 10445 initially and sustaining below it we can see a further correction till 10425 - 10405 . Similarly breaking and sustaining above 10515 we can see a test of 10540 - 10545 initially and breaking / sustaining above it we can see a further move till 10560 - 10580 . " , and today Nifty made a high of 10545.20 just above our initial resistance zone .
Now in the coming session Nifty needs to break and sustain below 10515 to test 10500 - 10495 initially and sustaining below it we can see a further correction till 10480 - 10460. Similarly breaking and sustaining above 10550 we can see a test of 10565 - 10570 initially and breaking / sustaining above it we can see a further move till 10585 - 10600
Nifty Spot Levels for the day are
Long above 10550 for 10560 - 10570 - 10600 , SL 10525
Short below 10515 for 10505 - 10495 - 10460 , SL 10540
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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.