Nifty Spot Outlook for 28th Nov

NIFTY

In the previous session Nifty spot opened at 10621.45, made a low of 10596.35 ,  made a high of 10695.15,  before closing at 10685.60

Had mentioned that long trade will get triggered for the day on sustaining above 10660 and short trade will get triggered for the day on sustaining below 10600. Nifty initially triggered our short trade but could not sustain and took our stoploss . It then triggered our long trade and completed 2 targets. 

As mentioned " Now in this week Nifty needs to break and sustain / close above 10605 to test 10685 - 10705 initially and above it we can see a test of 10775 - 10855 . Similarly Nifty needs to break and sustain / close below 10450 to test 10370 - 10350 initially and below it we can see a test of 10280 - 10200 ." , and Nifty had confirmed our weekly long trade on Monday and today we saw a test of our initial targets of  10685 - 10705 with a high of 10695.15 .

Also as mentioned "For the month of November , further longs will get confirmed with a consecutive close above 10660 for a initial target of 10945 - 11020 and sustaining / closing above it we can see a further test of 11265 - 11535 . Similarly , shorts will get confirmed with a consecutive close below  10115 for a initial target of 9830 - 9755 and sustaining / closing below it we can see a further move till 9510 - 9235 . ", and Nifty had done 100 points above 10660 and then reversed last week . Now Nifty has again give a close above 10660 and can approach its resistance zone of 10775 - 10875 from where it had reversed earlier this month.

Now in the coming session Nifty needs to break and sustain above 10715 to test 10740 - 10750 initially and sustaining above it we can see a further upmove till 10775 - 10800. Similarly breaking and sustaining below 10655 we can see a test of 10630 - 10620 initially and breaking and sustaining below it we can see a further correction till 10595 - 10570 .

Nifty Spot Levels for the day are

Long above 10715 for 10730 - 10750 - 10800 , SL 10690

Short below 10655 for 10640 - 10620 - 10570 , SL 10680

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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.