Nifty Spot Outlook for 27th Aug

NIFTY

In the previous session Nifty spot opened at 11566.60, made a high of 11604.60, then made a low of 11532   before closing at 11557.10

Had mentioned that long trade will get triggered for the day on sustaining above 11605 and short trade will get triggered for the day on sustaining below 11560. Nifty triggered our short trade and did 28 points .  

In this week Nifty needs to break and sustain / close above 11615 to test 11680 - 11695 initially and above it we can see a test of 11750 - 11810 . Similarly Nifty needs to break and sustain / close below 11495 to test 11435 - 11420 initially and below it we can see a test of 11365 - 11305 .

Had mentioned previously " For the month of August ,Nifty longs will get confirmed with a consecutive close above 11435 for a initial target of 11520 - 11540 and sustaining / closing above it we can see a further test of 11610 - 11690 . Similarly , shorts will get confirmed with a consecutive close below  11275 for a initial target of 11195 - 11175 and sustaining / closing below it we can see a further move till 11100 - 11025 .  " , and Nifty  tested our next targets with a high of 11620.70 . Now Nifty needs to hold 11520 - 11540 levels else we might see a dip till 11435 - 110405 .

Now in the coming session Nifty needs to break and sustain above 11580 to test 11605 - 11610 initially and sustaining above it we can see a further upmove till 11630 - 11650. Similarly breaking and sustaining below 11535 we can see a test of 11510 - 11505 initially and breaking and sustaining below it we can see a further correction till 11485 - 11465. 

Nifty Spot Levels for the day are

Long above 11580 for 11595 - 11610 - 11650 , SL 11550

Short below 11535 for 11520 - 11505 - 11460 , SL 11565

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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.