Tuesday, 8 August 2017

Nifty Spot Outlook for 09th Aug


Nifty spot opened at 10068.35 and made a high of 10083.80 , it made a low of 9947, before closing at 9978.55  

Had mentioned that long positions for the day can be taken above 10075 and short positions can be taken below 10040 . Nifty triggered our long trade for the day and reversed immediately without completing any target and took our SL . It then triggered our short trade and completed all our daily targets . Nifty also confirmed our weekly shorts today below 10025 and completed 4 short targets for the week . 

Had mentioned in the previous post "  Nifty is currently in a range of 10005 - 10150 and we need to see this range broken and sustained for a bigger move . IF Nifty holds on to the cbsl for longs at 10005 then we can see a retest of 10115 - 10130 . Breaking and sustaining below 9985 - 9965 we can see a test of 9915 - 9900 initially and below it we can see a further test of 9855 - 9810 next . Those who are looking to enter fresh shorts should again keep a strict cbsl of 10150" . Today Nifty broke below 9985 - 9965 range and closed within it and also below 10005 which was the lower end of the broader range . Now in the coming session Nifty sustaining below 10005 can see selling pressure make it test 9915 - 9900 initially and below it we can see a further test of 9855 - 9810.  

Nifty Spot Levels for the day are

Long above 9995  for 10005 - 10020 - 10055 , SL 9973

Short below 9960 for 9950 - 9935 - 9900 , SL 9984

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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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