Thursday, 10 August 2017

Nifty Spot Outlook for 11th Aug


Nifty spot opened at 9872.85 and made a high of 9892.65 , it made a low of 9776.20, before closing at 9820.25  

Had mentioned that long positions for the day can be taken above 9925 and short positions can be taken below 9890 . Nifty triggered our short trade for the day and completed all our targets for the day and exceeded it  . Nifty had also confirmed our weekly shorts below 10025 in the previous session and today completed all short targets for the week and exceeded it too .

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 9776.20 and close within 9855 - 9810 range . Now in the coming session Nifty needs to sustain below 9800 to test  9770 - 9730 initially and below it 9690 - 9655  . Holding 9730 and breaking / sustaining above 9855 we see a bounce back till 9900 - 9915 initially and above it till 9965 - 9985 . 

Nifty Spot Levels for the day are

Long above 9842  for 9855 - 9870 - 9910 , SL 9814

Short below 9799 for 9786 - 9771 - 9731 , SL 9827

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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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