Sunday, 13 August 2017

Nifty Spot Outlook for 14th Aug


Nifty spot opened at 9712.15 and made a high of 9771.65 , it made a low of 9685.55, before closing at 9710.80  

Had mentioned that long positions for the day can be taken above 9842 and short positions can be taken below 9799 . Nifty opened below our last target for the day and did not give a fresh entry. It then bounced up to test our the outer limit of our initial range of 9770 - 9730 with a high of 9771.65 but reversed again on being unable to sustain above it and tested our next lower range of 9690 - 9655.  Nifty had also confirmed our weekly shorts below 10025 in the previous session and had completed all short targets for the week and exceeded it too.

Had mentioned in the previous post " 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 can see a bounce back till 9900 - 9915 initially and above it till 9965 - 9985 " , and today we saw Nifty make a low of 9685.55 and close below 9770 - 9730 range . Now in the coming session Nifty needs to break and sustain below 9690 to test  9670 - 9655 initially and sustaining below it we can see a test of 9600 - 9585  . Breaking and sustaining above 9730 we see a bounce till 9750 - 9765 initially and breaking and sustaining above it we can see a test of  9820 - 9835 . 

Nifty Spot Levels for the day are

Long above 9731  for 9745 - 9757 - 9795 , SL 9705

Short below 9691 for 9678 - 9665 - 9625 , SL 9717

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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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