Tuesday, 17 July 2018

Nifty Spot Outlook for 18th Jul

NIFTY


In the previous session Nifty spot opened at 10939.65, made a low of 10925.60 ,  then made a high of 11018.50 ,  before closing at 11008.05.

Had mentioned that long trade will get triggered for the day on sustaining above 10960 and short trade will get triggered for the day on sustaining below 10915. Nifty triggered our long trade and did 50 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 . 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 ." , and today Nifty held 10925 again and bounced back to make a high of 11018.50 . Now in the coming session Nifty has to break and sustain above 11050 - 11090 zone to move up further else we might again see a dip till 10975 - 10965 .

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 and completed our initial targets of 11050 - 11090 with a high of 11078.30 in the previous week . Also had mentioned in this weeks 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 we saw Nifty test 10975 - 10925 this week after being unable to break above 11090 and today Nifty bounced back above 11000 again after taking support at 10925  . 

Now in the coming session Nifty needs to break and sustain above 11030 to test 11055 - 11060 initially and sustaining above it we can see a further upmove till 11075- 11100. Similarly breaking and sustaining below 10985 we can see a test of 10965 - 10960 initially and breaking and sustaining below it we can see a further correction till 10940 - 10920 . 


Nifty Spot Levels for the day are

Long above 11030 for 11045 - 11060 - 11100 , SL 11000

Short below 10985 for 10975 - 10960 - 10920 , SL 11015

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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.