Nifty spot opened at 10167.50 , it made a high of 10207.85 , it made a low of 10105.40, before closing at 10114.75
Had mentioned that long positions for the day can be taken above 10190 and short positions can be taken below 10120 . Nifty triggered our long trade and did not complete any targets and took our stoploss .Nifty then triggered our short trade and again failed to complete any targets . Today Nifty indicated indecisiveness to move in any direction and traded mostly between our long and short trigger levels . We can expect a trending move in the coming sessions
Had mentioned in the previous post " Now in this week Nifty has to sustain / close above 10190 to test 10230 - 10240 initially and sustaining above it we can see a further upmove till 10270 - 10305 . Similarly breaking and sustaining below 10120 we can see a test of 10085 - 10075 initially and breaking and sustaining below it we can see a further correction till 10040 - 10005 ." , and today broke above both our long and short levels but failed to sustain on either side indicating indecisiveness .
Had mentioned once March began that " 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 ." , and today Nifty made a low of 10075.30 and nearly tested our next targets at 10040 - 9900 for the month . As mentioned in the previous posts " Now closing / sustaining below 10165 is needed for further correction till 10040 - 9900 . Nifty has immediate resistance near 10455 - 10485 . " , Nifty has made a low of 10049.10 this week just above our expected range of 10040 - 9900.
Now in the coming session Nifty needs to break and sustain above 10150 to test 10185 - 10195 initially and sustaining above it we can see a further upmove till 10230 - 10265. Similarly breaking and sustaining below 10080 we can see a test of 10045 - 10035 initially and breaking and sustaining below it we can see a further correction till 10000 - 9965.
Nifty Spot Levels for the day are
Long above 10150 for 10170 - 10195 - 10265 , SL 10105
Short below 10080 for 10060 - 10035 - 9965 , SL 10125
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