Nifty Spot Outlook for 11th Oct

NIFTY

Nifty spot opened at 10013.70 and made a low of 10002.30 , it made a high of 10034, before closing at 10016.95 . Nifty gave a close above 10000 again after 11 trading sessions today.

Had mentioned that long positions for the day can be taken above 10015 and short positions can be taken below 9965 . Nifty triggered our long trade and completed  just 1 target .  Nifty today traded above 10000 the entire session as Bank Nifty was also supporting a bit today  . Had mentioned in the previous post " As long as Nifty is sustaining above 9940 we can expect a retest of 10000 - 10065 zone and if Bank Nifty also breaks and sustains above 24460 then we can expect higher levels in both." , today Nifty made a high of 10034 within our expected range of 10000 - 10065 and now we need Bank Nifty to break and sustain above 24360 which is our weekly long level initially to begin a move up to 24460.

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9965 to test 9940 - 9930 initially and sustaining below it we can see a test of 9910 - 9885 . Breaking and sustaining above 10015 we can see a bounce till 10040 - 10045 initially and breaking and sustaining above it we can see a test of 10070 - 10090 . " , and we saw Nifty make a high of 10034 just below our initial resistance zone of 10040 - 10045 . Now in the coming session Nifty needs to break and sustain below 9995 to test  9965 - 9960 initially and sustaining below it we can see a test of 9940 - 9915  . Breaking and sustaining above 10040 we can see a bounce till 10070 - 10075 initially and breaking and sustaining above it we can see a test of  10095 - 10120.

Nifty Spot Levels for the day are

Long above 10040 for 10055 - 10075 - 10120 , SL 10010

Short below 9995 for 9980 - 9960 - 9915 , SL 10025

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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.