Monday, 23 July 2018

Nifty Spot Outlook for 24th Jul

NIFTY


In the previous session Nifty spot opened at 11019.85, made a low of 11010.95 ,  then made a high of 11093.40 ,  before closing at 11084.75.

Had mentioned that long trade will get triggered for the day on sustaining above 11030 and short trade will get triggered for the day on sustaining below 10990. Nifty triggered our long trade and did 60 points .

Had mentioned in the previous post that " 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 ." , and today Nifty has triggered our weekly long trade and now holding 11005 in the coming session we can our initial targets to be tested.  

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 .  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 . " , and today Nifty made a high of 11093.45 completing our initial targets and sustaining above 11090 in the coming session we can see a move towards the next targets.

Now in the coming session Nifty needs to break and sustain above 11105 to test 11125 - 11130 initially and sustaining above it we can see a further upmove till 11150 - 11170. Similarly breaking and sustaining below 11065 we can see a test of 11045 - 11040 initially and breaking and sustaining below it we can see a further correction till 11020 - 11000 . 


Nifty Spot Levels for the day are

Long above 11105 for 11115 - 11130 - 11170 , SL 11075

Short below 11065 for 11055 - 11040 - 11000 , SL 11090

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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.