Nifty Spot Outlook for 22nd Jun

NIFTY

In the previous session Nifty spot opened at 10808.45 , it made a high of 10809.65 , then made a low of 10725.90 ,  before closing at 10741.10

Had mentioned that long trade will get triggered for the day on sustaining above 10790 and short trade will get triggered for the day on sustaining below 10755 . Nifty triggered the short trade for the day and did around 30 points . 

Had mentioned in the previous post that  " In this week Nifty needs to break and sustain / close above 10865 to test 10915 - 10925 initially and above it we can see a test of 10970 - 11015 . Similarly Nifty needs to break and sustain / close below 10770 to test 10720 - 10710 initially and below it we can see a test of 10665 - 10620 ." , and we saw Nifty today trigger our weekly short trade and achieve our initial targets . Nifty could not sustain below 10710  to test our next short targets and bounced back today .

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 10760 to test 10775 - 10780 initially and sustaining above it we can see a further upmove till 10800 - 10815. Similarly breaking and sustaining below 10725 we can see a test of 10705 - 10700 initially and breaking and sustaining below it we can see a further correction till 10685 - 10665 . 

Nifty Spot Levels for the day are

Long above 10760 for 10770 - 10780 - 10815 , SL 10735

Short below 10725 for 10715 - 10700 - 10665 , SL 10750

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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.