Tuesday, 11 July 2017

Nifty Spot Outlook for 12th Jul


Nifty spot opened at 9797.45 , made a new life time high of 9830.05 and then made a low of 9778.85 before closing at 9786.05 which is a new record high closing .

Had mentioned that long positions for the day can be taken above 9787 and short positions for the day can be taken below 9755 . Nifty triggered our long trade and completed 2 targets , it missed our last target by 10 points. Nifty had triggered our weekly longs in the previous session and nearly completed all our weekly long targets , missing our last weekly long target by 10 points . Nifty weekly longs has so far given nearly 130 points . Nifty made a new life time high today again and has also closed at new record high .

As mentioned previously  Nifty now needs to break and sustain above 9710 to test 9750 - 9770 levels initially and above it we can see a test of 9830 - 9850 levels . Similarly now breaking and sustaining / closing below 9625 we can see a test again of 9580 - 9570 initially and below it we can see a test of 9510 - 9490 levels , and today we saw Nifty make a high of 9830.05 near our next resistance zone on sustaining above 9750 - 9770 zone . Now on sustaining above these levels we can see nifty retest the range of 9830 - 9850 again.  Those who are holding longs should now move up their trailing cbsl to 9750 . Further upmove in Nifty can be expected on sustaining / closing above 9835 . Those who are looking to go short on the next upmove can keep a strict cbsl of 9835 .

For today if Nifty spot sustains above 9801 we can see a initial move on the upside till 9816 & on sustaining above 9820 we may see further move till 9848.  Similarly if Nifty spot sustains below 9771 we may see a initial move on the downside till 9756 & on sustaining below 9752 we may see a further move till 9724

Nifty Spot Levels for the day are

Long above 9801 for 9810 - 9820 - 9848 , SL 9782

Short below 9771 for 9762 - 9752 - 9724 , SL 9791

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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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