Wednesday, 11 July 2018

Nifty Spot Outlook for 12th Jul

NIFTY


In the previous session Nifty spot opened at 10956.40 , made a low of 10923 ,  then made a high of 10976.65 ,  before closing at 10948.30.

Had mentioned that long trade will get triggered for the day on sustaining above 10975 and short trade will get triggered for the day on sustaining below 10920. Nifty traded between the long and short trigger levels indicating indecisiveness on the next move . 

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 again Nifty has managed to close above our initial targets of 10920 - 10935 and it will need to hold above this zone for the next targets of 11000 - 11070 . Breaking below 10920 - 10935 can see a quick move till 10865 - 10845 . 

Had mentioned previously that " 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 ." , and Nifty has given us a consecutive close above 10875 and triggered our monthly longs . Those who are looking to enter on dips till 10800 should keep a cbsl of 10765 . 

Now in the coming session Nifty needs to break and sustain above 10970 to test 10995 - 11000 initially and sustaining above it we can see a further upmove till 11020 - 11040. Similarly breaking and sustaining below 10925 we can see a test of 10905 - 10900 initially and breaking and sustaining below it we can see a further correction till 10880 - 10860 . 


Nifty Spot Levels for the day are

Long above 10970 for 10985 - 11000 - 11040 , SL 10940

Short below 10925 for 10915 - 10900 - 10860 , SL 10955

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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.