Nifty Spot Outlook for 11th Jul

NIFTY

In the previous session Nifty spot opened at 10902.75 , made a low of 10876.65 ,  then made a high of 10956.90 ,  before closing at 10947.25.

Had mentioned that long trade will get triggered for the day on sustaining above 10880 and short trade will get triggered for the day on sustaining below 10825 . Nifty triggered the long trade after opening and did around 70 points . 

Had mentioned in the previous post that " In this week Nifty needs to break and sustain / close above 10845 to test 10920 - 10935 initially and above it we can see a test of 11000 - 11070 . 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 - 10475 ." , and today Nifty sustained above 10875 triggering our monthly longs and finally closed above our initial targets of 10920 - 10935 . Now in the coming session Nifty sustaining above 10920 - 10935 can test 11000 - 11070 next. 

Had mentioned previously that " 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 ." , and today Nifty gave the first close above 10875 and holding above it in the coming session we should see a move till 11050 - 11090 initially. 

Now in the coming session Nifty needs to break and sustain above 10975 to test 11000 - 11010 initially and sustaining above it we can see a further upmove till 11030 - 11055. Similarly breaking and sustaining below 10920 we can see a test of 10895 - 10885 initially and breaking and sustaining below it we can see a further correction till 10865 - 10835 . 

Nifty Spot Levels for the day are

Long above 10975 for 10990 - 11010 - 11055 , SL 10940

Short below 10920 for 10905 - 10885 - 10835 , SL 10955

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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.