Thursday, 19 July 2018

Nifty Spot Outlook for 20th Jul

NIFTY


In the previous session Nifty spot opened at 10999.50, made a high of 11006.50 ,  then made a low of 10935.45 ,  before closing at 10957.10.

Had mentioned that long trade will get triggered for the day on sustaining above 11005 and short trade will get triggered for the day on sustaining below 10960. Nifty did not sustain above 11005 and reversed to trigger our short trade and did 25 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 . Now in the coming session Nifty needs to break and sustain below 10925 else we might see it move back to test 11050 - 11090 zone again. " , and today Nifty could not break below 10925 and also did not test 11050 - 11090 zone . Now in the coming session if Nifty breaks below 10925 we can see a move till 10885 - 10850 and hold the same we can expect a bounce till 11050 - 11090 . 

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 .  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 initially and breaking below we can test 10885 - 10850 next .

Now in the coming session Nifty needs to break and sustain above 10980 to test 11005 - 11010 initially and sustaining above it we can see a further upmove till 11030 - 11050. Similarly breaking and sustaining below 10935 we can see a test of 10910 - 10905 initially and breaking and sustaining below it we can see a further correction till 10885 - 10860 . 


Nifty Spot Levels for the day are

Long above 10980 for 10995 - 11010 - 11050 , SL 10950

Short below 10935 for 10920 - 10905 - 10860 , SL 10965

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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.