Wednesday, 26 August 2020

Nifty Spot Outlook for 27th Aug

 In the previous session : 

Nifty went up by 90 points , went down by 10 points before closing higher by 77 points on Wednesday as compared to the previous day's close.

Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 

On 26th Aug :

Nifty triggered our long trade and did 2 targets giving 40 points . 

For 27th Aug :

Sustaining above 11585 enter for 11600 - 11625 - 11685 , SL 11560

Sustaining below 11515 enter for 11500 - 11475 - 11415 , SL 11540

As mentioned yesterday we saw a move toward 11540 - 11560 today with a high of 11561.75 . We are expecting resistance near this zone and a dip now unless we get a close above 11560 . 

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"

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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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