Nifty Spot Outlook for 12th Jun

NIFTY

In the previous session Nifty spot opened at 10781.85 ,  made a high of 10850.55 , then made a low of 10777.05 ,  before closing at 10786.95 .

Had mentioned that long trade will get triggered for the day on sustaining above 10795 and short trade will get triggered for the day on sustaining below 10740. Nifty triggered the long trade and did around 50 points . 

Had mentioned that " In the coming week Nifty needs to break and sustain / close above 10835 to test 10910 - 10925 initially and above it we can see a test of 10990 - 11055 . Similarly Nifty needs to break and sustain / close below 10700 to test 10625 - 10610 initially and below it we can see a test of 10545 - 10480 . " , and we saw Nifty sustain above 10835 for a good part of the session but finally corrected towards the end and could not close above 10835 .

For the month of June ,Nifty longs will get confirmed with a consecutive close above 10905 for a initial target of 11085 - 11125 and sustaining / closing above it we can see a further test of 11280 - 11450 . Similarly , shorts will get confirmed with a consecutive close below  10565 for a initial target of 10390 - 10345 and sustaining / closing below it we can see a further move till 10190 - 10025 . 

Now in the coming session Nifty needs to break and sustain above 10810 to test 10835 - 10845 initially and sustaining above it we can see a further upmove till 10865 - 10890. Similarly breaking and sustaining below 10765 we can see a test of 10735 - 10730 initially and breaking and sustaining below it we can see a further correction till 10710 - 10685. 

Nifty Spot Levels for the day are

Long above 10810 for 10825 - 10845 - 10890 , SL 10780

Short below 10765 for 10750 - 10730 - 10685 , SL 10795

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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.