Wednesday, 25 July 2018

Nifty Spot Outlook for 26th Jul

NIFTY


In the previous session Nifty spot opened at 11148.40, made a high of 11157.15 ,  then made a low of 11113.25 ,  before closing at 11132.

Had mentioned that long trade will get triggered for the day on sustaining above 11155 and short trade will get triggered for the day on sustaining below 11115. Nifty traded between our short and long trigger level of 11115 - 11155 and could not sustain on either side and traded sideways the entire session. 

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 Nifty on sustaining above 11090 has made a high of 11157.15 till now.  Now in the coming session Nifty has to sustain above 11140 for the next move till 11190 - 11240 else we might see a move back till 11085 - 11065 . 

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 Nifty on sustaining above 11090 has made a high of 11157.15 . So far Nifty has given us 275 points after confirming our monthly longs . Now on sustaining above 11140 we can see it test the next immediate resistance zone of 11190 - 11240 this month . 

Now in the coming session Nifty needs to break and sustain above 11150 to test 11170 - 11180 initially and sustaining above it we can see a further upmove till 11195 - 11215. Similarly breaking and sustaining below 11110 we can see a test of 11090 - 11085 initially and breaking and sustaining below it we can see a further correction till 11070 - 11050 . 


Nifty Spot Levels for the day are

Long above 11150 for 11165 - 11180 - 11215 , SL 11125

Short below 11110 for 11100 - 11085 - 11050 , SL 11140

Expected Expiry Range is 

Upper End - 11205

Lower End - 11060

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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.