Monday, 9 July 2018

Nifty Spot Outlook for 10th Jul

NIFTY


In the previous session Nifty spot opened at 10838.30 , made a low of 10807.15 ,  then made a high of 10860.35 ,  before closing at 10852.90

Had mentioned that long trade will get triggered for the day on sustaining above 10800 and short trade will get triggered for the day on sustaining below 10745 . Nifty triggered the long trade after opening and did around 50 points . 

Had mentioned in the previous post that " In this week Nifty needs to break and sustain / close above 10845 to test 10920 - 10935 initially and above it we can see a test of 11000 - 11070 . Similarly Nifty needs to break and sustain / close below 10700 to test 10625 - 10610 initially and below it we can see a test of 10545 - 10475 ." , and today Nifty triggered our weekly longs with a close above 10845 . Those who have entered longs should keep a cbsl of 10795 and look to book once near 10920 - 10935 . In the coming session Nifty has resistance near 10875 as sustaining above it Nifty will trigger monthly longs too .  

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 10880 to test 10910 - 10920 initially and sustaining above it we can see a further upmove till 10945 - 10975. Similarly breaking and sustaining below 10825 we can see a test of 10795 - 10785 initially and breaking and sustaining below it we can see a further correction till 10760 - 10735 . 


Nifty Spot Levels for the day are

Long above 10880 for 10900 - 10920 - 10975 , SL 10845

Short below 10825 for 10805 - 10785 - 10735 , SL 10860

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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.