Nifty Spot Outlook for 03rd Jul

NIFTY

In the previous session Nifty spot opened at 10732.35 and made a high of 10736.15 , then made a low of 10604.65 ,  before closing at 10657.30

Had mentioned that long trade will get triggered for the day on sustaining above 10745 and short trade will get triggered for the day on sustaining below 10685 . Nifty triggered the short trade after opening and did around 80 points . 

Had mentioned " In this week Nifty needs to break and sustain / close above 10795 to test 10875 - 10895 initially and above it we can see a test of 10965 - 11045 . Similarly Nifty needs to break and sustain / close below 10635 to test 10555 - 10535 initially and below it we can see a test of 10460 - 10385 ." , and today Nifty broke below 10635 but managed to close above it . 

For the month of July ,Nifty longs will get confirmed with a consecutive close above 10875 for a initial target of 11050 - 11090 and sustaining / closing above it we can see a further test of 11240 - 11400 . Similarly , shorts will get confirmed with a consecutive close below  10550 for a initial target of 10380 - 10335 and sustaining / closing below it we can see a further move till 10190 - 10025 . The previous month Nifty traded between our long and short trigger range and we can expect a strong good move in the direction it takes this month.

Now in the coming session Nifty needs to break and sustain above 10685 to test 10715 - 10725 initially and sustaining above it we can see a further upmove till 10750 - 10775. Similarly breaking and sustaining below 10630 we can see a test of 10600 - 10590 initially and breaking and sustaining below it we can see a further correction till 10565 - 10535 . 

Nifty Spot Levels for the day are

Long above 10685 for 10705 - 10725 - 10775 , SL 10650

Short below 10630 for 10610 - 10590 - 10535 , SL 10665

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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.