Monday, 23 July 2018

Nifty Spot Outlook for 23rd Jul

NIFTY


In the previous session Nifty spot opened at 10963.50, made a low of 10946.20 ,  then made a high of 11030.25 ,  before closing at 11010.20.

Had mentioned that long trade will get triggered for the day on sustaining above 10980 and short trade will get triggered for the day on sustaining below 10935. Nifty triggered our long trade and did 50 points .

In this week Nifty needs to break and sustain / close above 11065 to test 11125 - 11140 initially and above it we can see a test of 11190 - 11240 . Similarly Nifty needs to break and sustain / close below 10955 to test 10895 - 10880 initially and below it we can see a test of 10830 - 10775 . Nifty currently has support near 10925 and has resistance near 11090 and has been trading in the range of 10925 - 11090 which has to be broken and sustained on either side for a bigger move . 

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 11030 to test 11055 - 11060 initially and sustaining above it we can see a further upmove till 11080 - 11100. Similarly breaking and sustaining below 10990 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 11005

Short below 10990 for 10975 - 10960 - 10920 , SL 11015

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.