Nifty spot opened at 10518.20 , it made a low of 10485.40 , it made a high of 10555.50 , before closing at 10539.75
Had mentioned that long positions for the day can be taken above 10490 and short positions can be taken below 10420 . Nifty triggered our long trade for the day and completed 2 targets giving 50 points . Now this week Nifty has to sustain / close above 10550 to test 10650 - 10675 initially and above it till 10765 - 10860 next . For a further downmove this week Nifty has to sustain / close below 10360 to test 10260 - 10235 initially and below it till 10145 - 10050 next .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10490 to test 10530 - 10540 initially and sustaining above it we can see a further upmove till 10570 - 10610. Similarly breaking and sustaining below 10420 we can see a test of 10380 - 10370 initially and breaking and sustaining below it we can see a further correction till 10340 - 10300 . " , and Nifty made a high of 10555.50 above our initial resistance zone .
For the month of February Nifty has triggered our monthly shorts for a initial target of 10775 - 10745 and breaking and sustaining below it we can see a further test of 10635 - 10515 . Monthly longs will get confirmed with a consecutive close above 11150 for a initial target of 11280 - 11310 and breaking and sustaining above it we can see a further test of 11420 - 11540 . Sustaining below 10515 Nifty can see a retest of 10435 - 10330 zone . For a slightly bigger correction Nifty needs to give a close below 10390 for a test of 10240 - 10200 initially .
Now in the coming session Nifty needs to break and sustain above 10580 to test 10625 - 10635 initially and sustaining above it we can see a further upmove till 10675 - 10715. Similarly breaking and sustaining below 10500 we can see a test of 10455 - 10445 initially and breaking and sustaining below it we can see a further correction till 10405 - 10365 .
Nifty Spot Levels for the day are
Long above 10580 for 10605 - 10635 - 10715 , SL 10525
Short below 10500 for 10475 - 10445 - 10365 , SL 10555
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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.