Wednesday, 4 July 2018

Nifty Spot Outlook for 05th Jul

NIFTY


In the previous session Nifty spot opened at 10715 and made a low of 10677.75 , then made a high of 10777.15 ,  before closing at 10769.90

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 10670 . Nifty triggered the long trade after opening and did around 45 points . 

Had mentioned " In this week Nifty needs to break and sustain / close above 10795 to test 10875 - 10895 initially and above it we can see a test of 10965 - 11045 . Similarly Nifty needs to break and sustain / close below 10635 to test 10555 - 10535 initially and below it we can see a test of 10460 - 10385 ." , and so far Nifty has not been able to give a close below 10635 after breaking below it twice and in the coming session we need to see if it can break and sustain above 10795 now . 

For the month of July ,Nifty longs will get confirmed with a consecutive close above 10875 for a initial target of 11050 - 11090 and sustaining / closing above it we can see a further test of 11240 - 11400 . Similarly , shorts will get confirmed with a consecutive close below  10550 for a initial target of 10380 - 10335 and sustaining / closing below it we can see a further move till 10190 - 10025 . The previous month Nifty traded between our long and short trigger range and we can expect a strong good move in the direction it takes this month.

Now in the coming session Nifty needs to break and sustain above 10800 to test 10830 - 10840 initially and sustaining above it we can see a further upmove till 10865 - 10895. Similarly breaking and sustaining below 10740 we can see a test of 10710 - 10700 initially and breaking and sustaining below it we can see a further correction till 10675 - 10645 . 


Nifty Spot Levels for the day are

Long above 10800 for 10820 - 10840 - 10895 , SL 10760

Short below 10740 for 10720 - 10700 - 10645 , 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.