Nifty Spot Outlook for 09th Jul

NIFTY

In the previous session Nifty spot opened at 11770.40  made a high of 11771.90, made a low of 11523.30,  before closing at 11558.60

Had mentioned that long trade will get triggered for the day on sustaining above 11840 and short trade will get triggered for the day on sustaining below 11785. Nifty initially triggered our short trade and completed all daily targets and also triggered our weekly short trade and completed all weekly targets giving 250+ points . 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11880 and then enter for a initial target of 11950 - 11970 and look to hold further only on sustaining or getting a close above 11970 for the next targets of 12030 - 12100. 

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Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11745 and then enter for a initial target of 11675 - 11655 and look to hold further only on sustaining or getting a close below 11655 for the next targets of 11595 - 11525. 

Today Nifty triggered our weekly short trade and completed all our weekly short targetrs with a low of 11523.30 . Now since its also triggered our monthly short trade hence sustaining below 11640 in the coming sessions we can see a test of 11480 - 11440 where we can see it take some support.

For the month of July , longs will get confirmed in Nifty with a consecutive close above 11940 for a initial target of 12095 - 12135 and sustaining / closing above it we can see a further move till 12270 - 12420 .  Similarly shorts will get confirmed with a consecutive close below 11640 for  a initial target of 11480 - 11440 and sustaining / closing below it we can see a further move till 11305 - 11155 .

Today Nifty has closed well below 11640 and sustaining below it we can see a further correction towards 11480 - 11440 in the coming sessions . Nifty needs to reclaim 11670 strongly for any bounce to be expected in the coming sessions. 

Now in the coming session Nifty needs to break and sustain above 11595 to test 11635 - 11645 initially and sustaining above it we can see a further upmove till 11680 - 11720. Similarly breaking and sustaining below 11520 we can see a test of 11480 - 11470 initially and breaking and sustaining below it we can see a further correction till 11435 - 11400.

Nifty Spot Levels for the day are

Long above 11595 for 11620 - 11645 - 11720 , SL 11570

Short below 11520 for 11495 - 11470 - 11400 , SL 11545

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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.