Monday 29 July 2019

Nifty Spot Outlook for 30th Jul

NIFTY


In the previous session Nifty spot opened at 11307.50,  made a high of 11310.95, made a low of 11152.40  before closing at 11189.20


Had mentioned that long trade will get triggered for the day on sustaining above 11310 and short trade will get triggered for the day on sustaining below 11255. Nifty triggered our short trade and completed all targets giving 100 points. 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11355 and then enter for a initial target of 11430 - 11450 and look to hold further only on sustaining or getting a close above 11450 for the next targets of 11515 - 11585. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11215 and then enter for a initial target of 11140 - 11120 and look to hold further only on sustaining or getting a close below 11120 for the next targets of 11055 - 10985. 


Nifty today triggered our weekly short trade and nearly completed our initial targets . Now in the coming session unless Nifty is able to break strongly below 11140 - 11120 zone and sustain , shorts should be booked. Those who are looking to go long for a expected bounce should keep 11105 as cbsl.


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 .



Nifty had confirmed our monthly shorts and today completed all our short targets with a low of 11152.40 .


Now on the downside Nifty has immediate support near 11155 - 11105 and it needs to hold these levels on closing basis on any further correction in this week for a bounce . Those who are looking to go long in the coming sessions on a dip can keep a cbsl of 11105 .




Now in the coming session Nifty needs to break and sustain above 11215 to test 11240 - 11245 initially and sustaining above it we can see a further upmove till 11265 - 11290. Similarly breaking and sustaining below 11165 we can see a test of 11140 - 11135 initially and breaking and sustaining below it we can see a further correction till 11115 - 11090.


Nifty Spot Levels for the day are

Long above 11215 for 11225 - 11245 - 11290 , SL 11195

Short below 11165 for 11150 - 11135 - 11090 , SL 11185


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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.

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