Wednesday, 20 June 2018

Nifty Spot Outlook for 21st Jun

NIFTY


In the previous session Nifty spot opened at 10734.65 , it made a low of 10724.05 , then made a high of 10781.80 ,  before closing at 10772.05

Had mentioned that long trade will get triggered for the day on sustaining above 10730 and short trade will get triggered for the day on sustaining below 10690. Nifty triggered the long trade for the day and did around 50 points . 

Had mentioned in the previous post that  " In this week Nifty needs to break and sustain / close above 10865 to test 10915 - 10925 initially and above it we can see a test of 10970 - 11015 . Similarly Nifty needs to break and sustain / close below 10770 to test 10720 - 10710 initially and below it we can see a test of 10665 - 10620 ." , and we saw Nifty today trigger our weekly short trade and achieve our initial targets . Nifty could not sustain below 10710  to test our next short targets and bounced back today .

For the month of June ,Nifty longs will get confirmed with a consecutive close above 10905 for a initial target of 11085 - 11125 and sustaining / closing above it we can see a further test of 11280 - 11450 . Similarly , shorts will get confirmed with a consecutive close below  10565 for a initial target of 10390 - 10345 and sustaining / closing below it we can see a further move till 10190 - 10025 . 

Now in the coming session Nifty needs to break and sustain above 10790 to test 10805 - 10810 initially and sustaining above it we can see a further upmove till 10830 - 10845. Similarly breaking and sustaining below 10755 we can see a test of 10735 - 10730 initially and breaking and sustaining below it we can see a further correction till 10715 - 10700 . 


Nifty Spot Levels for the day are

Long above 10790 for 10800 - 10810 - 10845 , SL 10765

Short below 10755 for 10745 - 10730 - 10700 , SL 10780

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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.