Nifty Spot Outlook for 02nd Jan

NIFTY

Nifty spot opened at 10531.70 , made a high of 10537.85 , it made a low of 10423.10 ,  before closing at 10435.55

Had mentioned that long positions for the day can be taken above 10545 and short positions can be taken below 10515 .  Nifty triggered our short trade and completed all 3 short targets for the day  . Nifty also confirmed our weekly trade and completed 4 weekly short targets giving around 75 points today . 

Had mentioned in the previous post " 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 10485 - 10465 . Similarly breaking and sustaining above 10545 we can see a test of 10560 - 10565 initially and breaking / sustaining above it we can see a further move till 10580 - 10595  . " , and today Nifty made a low of 10423.10 well below our next support zone for the day and also below it . 

Nifty today gave a close below 10450 and a consecutive close below it is required for a test of 10365 - 10340 levels initially .  

Now in the coming session Nifty needs to break and sustain below 10415 to test 10395 - 10390 initially and sustaining below it we can see a further correction till 10375 - 10355. Similarly breaking and sustaining above 10455 we can see a test of 10475 - 10480 initially and breaking / sustaining above it we can see a further move till 10500 - 10515

Nifty Spot Levels for the day are

Long above 10455 for 10465 - 10480 - 10515 , SL 10430

Short below 10415 for 10405 - 10390 - 10355 , SL 10445

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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.