Nifty Spot Outlook for 27th Jun

NIFTY

In the previous session Nifty spot opened at 10742.70 , it made a low of 10732.55 , then made a high of 10805.25 ,  before closing at 10769.15 

Had mentioned that long trade will get triggered for the day on sustaining above 10785 and short trade will get triggered for the day on sustaining below 10740 . Nifty initially triggered the short trade at opening but did not sustain and reversed to take our stoploss . Nifty then triggered our long trade and did just 20 points . 

Had mentioned that " In this week Nifty needs to break and sustain / close above 10875 to test 10930 - 10945 initially and above it we can see a test of 10995 - 11050 . Similarly Nifty needs to break and sustain / close below 10765 to test 10710 - 10695 initially and below it we can see a test of 10650 - 10595 .", and Nifty had given a borderline close below 10765 in the previous session and today has the done the same again . 

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 . The entire month till now Nifty has traded between the short and long trigger level range of 10565 - 10905 with the intraday low of the month being 10550.90 and the intraday high of the month being 10893.25 .

Now in the coming session Nifty needs to break and sustain above 10790 to test 10810 - 10815 initially and sustaining above it we can see a further upmove till 10835 - 10855. Similarly breaking and sustaining below 10750 we can see a test of 10730 - 10725 initially and breaking and sustaining below it we can see a further correction till 10705 - 10685 . 

Nifty Spot Levels for the day are

Long above 10790 for 10800 - 10815 - 10855 , SL 10765

Short below 10750 for 10735 - 10725 - 10685 , SL 10775

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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.