Monday, 30 July 2018

Nifty Spot Outlook for 31st Jul

NIFTY


In the previous session Nifty spot opened at 11296.65, made a low of 11261.45 , then made a new lifetime high of 11328.10 ,   before closing at 11319.55.

Had mentioned that long trade will get triggered for the day on sustaining above 11295 and short trade will get triggered for the day on sustaining below 11260. Nifty triggered our long trade and did 30 points

In this week Nifty needs to break and sustain / close above 11325 to test 11375 - 11385 initially and above it we can see a test of 11425 - 11470 . Similarly Nifty needs to break and sustain / close below 11230 to test 11185 - 11170 initially and below it we can see a test of 11130 - 11085 .

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 has now made a high of 11328.10 for this month testing our last targets of 11240 - 11400 for the month of July . Nifty has now entered a resistance zone of 11295 - 11385 and breaking and sustaining above it will decide the further upmove. 

Now in the coming session Nifty needs to break and sustain above 11335 to test 11355 - 11360 initially and sustaining above it we can see a further upmove till 11375 - 11390. Similarly breaking and sustaining below 11300 we can see a test of 11285 - 11280 initially and breaking and sustaining below it we can see a further correction till 11265 - 11250. 


Nifty Spot Levels for the day are

Long above 11335 for 11345 - 11360 - 11390 , SL 11315

Short below 11300 for 11290 - 11280 - 11250 , SL 11325

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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.