Nifty spot opened at 10479.95 , it made a high of 10525.50 , it made a low of 10447.15 , before closing at 10458.35
Had mentioned that long positions for the day can be taken above 10520 and short positions can be taken below 10465 . Nifty triggered our long trade but did not sustain or or complete any target and took our stoploss . Nifty then triggered our short trade and completed just 1 target . Now in this week Nifty has to sustain / close above 10520 to test 10585 - 10600 initially and above it we can see a move till 10655 - 10720 . Similarly Nifty has to sustain / close below 10395 to test 10335 - 10315 initially and below it we can see a move till 10260 - 10200 . Those who would have entered longs last week with a cbsl of 10425 in the dip should exit once Nifty breaks and sustains below 10395 this week .
Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10520 to test 10545 - 10555 initially and sustaining above it we can see a further upmove till 10575 - 10600. Similarly breaking and sustaining below 10465 we can see a test of 10440 - 10435 initially and breaking and sustaining below it we can see a further correction till 10410 - 10385. " , and Nifty made a low of 10447.14 above our initial support zone .
Now for the month of March ,Nifty longs will get confirmed with a consecutive close above 10635 for a initial target of 10780 - 10820 and sustaining / closing above it we can see a further test of 10950 - 11090 . Similarly , shorts will get confirmed with a consecutive close below 10350 for a initial target of 10205 - 10165 and sustaining / closing below it we can see a further test of 10040 - 9900 .
Now in the coming session Nifty needs to break and sustain above 10485 to test 10505 - 10515 initially and sustaining above it we can see a further upmove till 10535 - 10560. Similarly breaking and sustaining below 10435 we can see a test of 10410 - 10405 initially and breaking and sustaining below it we can see a further correction till 10385 - 10360.
Nifty Spot Levels for the day are
Long above 10485 for 10495 - 10515 - 10560 , SL 10450
Short below 10435 for 10420 - 10405 - 10360 , SL 10465
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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.