Wednesday, 9 August 2017

Nifty Spot Outlook for 10th Aug


Nifty spot opened at 9961.05 and made a high of 9969.80 , it made a low of 9893.05, before closing at 9908.05  

Had mentioned that long positions for the day can be taken above 9995 and short positions can be taken below 9960 . Nifty triggered our short trade for the day and completed all our targets for the day . Nifty had also confirmed our weekly shorts below 10025 in the previous session and today completed 5 short targets for the week and missed our last target by 8 points giving more than 125 points from the weekly short trade .

Had mentioned in the previous post " 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. " , and today we saw Nifty make a low of 9893 and close within 9915 - 9900 range . Now in the coming session Nifty needs to sustain below 9900 to test the next targets at 9855 - 9810 .

Nifty Spot Levels for the day are

Long above 9925  for 9940 - 9955 - 9990 , SL 9900

Short below 9890 for 9875 - 9860 - 9825 , SL 9915

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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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