Nifty Spot Outlook for 05th Oct

NIFTY

In the previous session Nifty spot opened at 10754.70 which was also the high for the day,  then made a low of 10547.25,  before closing at 10599.25

Had mentioned that long trade will get triggered for the day on sustaining above 10890 and short trade will get triggered for the day on sustaining below 10825. Nifty initially triggered our short trade and did nearly 200 points 

As mentioned previously "Now in this week Nifty needs to break and sustain / close above 11005 to test 11085 - 11105 initially and above it we can see a test of 11170 - 11245 . Similarly Nifty needs to break and sustain / close below 10855 to test 10775 - 10755 initially and below it we can see a test of 10690 - 10620 . " , Nifty had triggered our weekly shorts in the previous session and today completed all our weekly short targets and bettered it with a further 70 points as our monthly shorts were also confirmed . 

Also as mentioned " For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 ." , and Nifty confirmed our monthly shorts and completed our initial short targets with a low of 10547.25 giving 225 points from the short trade. Now in the coming sessions Nifty needs to sustain / close below 10575 for the next move till 10435 - 10285 . 

Now in the coming session Nifty needs to break and sustain above 10640 to test 10685 - 10695 initially and sustaining above it we can see a further upmove till 10730 - 10770. Similarly breaking and sustaining below 10560 we can see a test of 10515 - 10505 initially and breaking and sustaining below it we can see a further correction till 10470 - 10430 . 

Nifty Spot Levels for the day are

Long above 10640 for 10665 - 10695 - 10770 , SL 10610

Short below 10560 for 10535 - 10505 - 10430 , SL 10590

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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.