Monday, 16 July 2018

Nifty Spot Outlook for 17th Jul

NIFTY


In the previous session Nifty spot opened at 11018.95, made a high of 11019.50 ,  then made a low of 10926.25 ,  before closing at 10936.85.

Had mentioned that long trade will get triggered for the day on sustaining above 11035 and short trade will get triggered for the day on sustaining below 11005. Nifty triggered our short trade and did 75 points .

Had mentioned in the previous post that " In this week Nifty needs to break and sustain / close above 11060 to test 11105 - 11115 initially and above it we can see a test of 11150 - 11190 . Similarly Nifty needs to break and sustain / close below 10975 to test 10935 - 10925 initially and below it we can see a test of 10885 - 10850 ." , today Nifty triggered our weekly short and completed our initial targets of 10935 - 10925 with a low of 10926.25 . Now in the coming session Nifty needs to break and sustain below 10925 for the next targets of 10885 - 10850 else we might see a bounce back till 10975 - 10995 .

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 had confirmed our monthly longs in the previous session and today completed our initial targets of 11050 - 11090 with a high of 11078.30 . Also had mentioned in the previous post " Now for further upmove Nifty has to close above 11090 in the coming sessions for a move towards 11240 - 11400 else we might see a move back to 10975 - 10925 again ." , and today we saw Nifty test 10975 - 10925 after being unable to break above 11090  . 

Now in the coming session Nifty needs to break and sustain above 10960 to test 10980 - 10985 initially and sustaining above it we can see a further upmove till 11005- 11025. Similarly breaking and sustaining below 10915 we can see a test of 10895 - 10890 initially and breaking and sustaining below it we can see a further correction till 10870 - 10850 . 


Nifty Spot Levels for the day are

Long above 10960 for 10970 - 10985 - 11025 , SL 10930

Short below 10915 for 10905 - 10890 - 10850 , SL 10945

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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.