Tuesday, 14 August 2018

Nifty Spot Outlook for 14th Aug

NIFTY


In the previous session Nifty spot opened at 11369.60 made a  high of 11406.30 , then made a low of 11340.30,   before closing at 11355.75

Had mentioned that long trade will get triggered for the day on sustaining above 11455 and short trade will get triggered for the day on sustaining below 11405. Nifty triggered our short trade and did 60 points . 

As mentioned in the previous post " In this week Nifty needs to break and sustain / close above 11490 to test 11550 - 11570 initially and above it we can see a test of 11620 - 11680 . Similarly Nifty needs to break and sustain / close below 11370 to test 11310 - 11290 initially and below it we can see a test of 11235 - 11180 ." , and Nifty triggered our weekly short trade and we can see a test of 11310 - 11290 initially in the coming sessions.   

Had mentioned in the previous post " For the month of August ,Nifty longs will get confirmed with a consecutive close above 11435 for a initial target of 11520 - 11540 and sustaining / closing above it we can see a further test of 11610 - 11690 . Similarly , shorts will get confirmed with a consecutive close below  11275 for a initial target of 11195 - 11175 and sustaining / closing below it we can see a further move till 11100 - 11025 . " , and Nifty confirmed our monthly longs and made a high of 11495.20 near the recommended exit zone of 11500 - 11520 and reversed to take our positional stoploss at 11380 as mentioned in the weekly post . Now Nifty has small support near 11330 - 11320 and sustaining / closing below it we can see a test of 11290 - 11275 .

Now in the coming session Nifty needs to break and sustain above 11380 to test 11405 - 11415 initially and sustaining above it we can see a further upmove till 11435 - 11460. Similarly breaking and sustaining below 11330 we can see a test of 11305 - 11300 initially and breaking and sustaining below it we can see a further correction till 11275 - 11255. 


Nifty Spot Levels for the day are

Long above 11380 for 11395 - 11415 - 11460 , SL 11350

Short below 11330 for 11315 - 11300 - 11255 , SL 11365

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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.