Wednesday, 27 June 2018

Nifty Spot Outlook for 28th Jun

NIFTY


In the previous session Nifty spot opened at 10785.50 which was also the high , then made a high of 10652.40 ,  before closing at 10671.40 

Had mentioned that long trade will get triggered for the day on sustaining above 10790 and short trade will get triggered for the day on sustaining below 10750 . Nifty triggered the short trade after opening and did around 70 points . 

Had mentioned that " In this week Nifty needs to break and sustain / close above 10875 to test 10930 - 10945 initially and above it we can see a test of 10995 - 11050 . Similarly Nifty needs to break and sustain / close below 10765 to test 10710 - 10695 initially and below it we can see a test of 10650 - 10595 .", and Nifty had given a borderline close near 10765 in the previous sessions and today made a low of 10652.40 near our next weekly short targets of 10650 - 10595 . Now Nifty has support in the zone of 10565 - 10635 and holding the same we can see a small bounce back and breaking and sustaining below it is required for any further downmove  . 

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 . The entire month till now Nifty has traded between the short and long trigger level range of 10565 - 10905 with the intraday low of the month being 10550.90 and the intraday high of the month being 10893.25 .

Now in the coming session Nifty needs to break and sustain above 10695 to test 10720 - 10725 initially and sustaining above it we can see a further upmove till 10745 - 10765. Similarly breaking and sustaining below 10650 we can see a test of 10625 - 10620 initially and breaking and sustaining below it we can see a further correction till 10600 - 10575 . 


Nifty Spot Levels for the day are

Long above 10695 for 10710 - 10725 - 10765 , SL 10665

Short below 10650 for 10635 - 10620 - 10575 , SL 10680

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.