Wednesday 7 October 2020

Nifty Spot Outlook for 08th Oct


It gives me immense pleasure to inform all our readers that our blog has been selected by Feedspot panelists as one of the Top 35 Indian Stocks and Trading blogs on the web . 

Click on this link to see the list "https://blog.feedspot.com/indian_stocks_and_trading_blogs/"


In the previous session : 


Nifty went down by 33 points then went up by 100 points before closing higher by 76 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 07th Oct :

Nifty triggered our long trade but did not complete any targets 



For 08th Oct :
 


Sustaining above 11805 enter for 11845 - 11890 - 12010 , SL 11760


Sustaining below 11675 enter for 11635 - 11590 - 11470 , SL 11645


 

As mentioned " Now for this week Nifty has immediate resistance at 11535 - 11610 zone and closing above it we may see a further move towards 11810 - 11860 zone " , today Nifty made a high of 11763.05 and closed at 11738.85 after closing above 11610 in the previous session. We can see a move towards our next targets of 11810 - 11860 which is also a resistance zone . Now initial supports on dips is near 11610 - 11590 levels.

On further downside Nifty has support at 11300 - 11225 zone and below it we may see a further move towards 11025 - 10975 .

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






























Join our Telegram Channel "simplytradestocks" for live stock trading ideas during market hours                                      












To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.























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.

No comments:

Post a Comment