Nifty Spot Outlook for 13th Jul

NIFTY

In the previous session Nifty spot opened at 11006.95, made a low of 10999.65 ,  then made a high of 11078.30 ,  before closing at 11023.20.

Had mentioned that long trade will get triggered for the day on sustaining above 10970 and short trade will get triggered for the day on sustaining below 10925. Nifty triggered our long trade and did 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 completed all our weekly long targets with a high of 11078.30 . 

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 Nifty had confirmed our monthly longs in the previous session and today completed our initial targets of 11050 - 11090 with a high of 11078.30 . Now for further upmove Nifty has to close above 11090 in the coming sessions for a move towards 11240 - 11400 else we might see a move back to 10975 - 10925 again . 

Now in the coming session Nifty needs to break and sustain above 11045 to test 11065 - 11070 initially and sustaining above it we can see a further upmove till 11085 - 11105. Similarly breaking and sustaining below 11005 we can see a test of 10985 - 10980 initially and breaking and sustaining below it we can see a further correction till 10960 - 10945 . 

Nifty Spot Levels for the day are

Long above 11045 for 11055 - 11070 - 11105 , SL 11015

Short below 11005 for 10995 - 10980 - 10945 , SL 11030

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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.