Thursday, 28 June 2018

Nifty Spot Outlook for 29th Jun

NIFTY


In the previous session Nifty spot opened at 10660.80 and made a high of 10674.20 , then made a low of 10557.70 ,  before closing at 10589.10 

Had mentioned that long trade will get triggered for the day on sustaining above 10695 and short trade will get triggered for the day on sustaining below 10650 . Nifty triggered the short trade after opening and did around 75 points . 

Had mentioned that " In this week Nifty needs to break and sustain / close above 10695 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 today completed all our weekly short targets . As expected Nifty has taken the small support near 10565 and holding the same we can see a small bounce back till 10665 - 10725 and breaking and sustaining below it is required for any further downmove till 10455 - 10325 . 

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 10615 to test 10635 - 10645 initially and sustaining above it we can see a further upmove till 10665 - 10685. Similarly breaking and sustaining below 10565 we can see a test of 10540 - 10535 initially and breaking and sustaining below it we can see a further correction till 10515 - 10490 . 


Nifty Spot Levels for the day are

Long above 10615 for 10625 - 10645 - 10685 , SL 10580

Short below 10565 for 10550 - 10535 - 10490 , SL 10595

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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.