Wednesday, 22 August 2018

Nifty Spot Outlook for 23rd Aug

NIFTY


In the previous session Nifty spot opened at 11576.20 , made a new lifetime high of 11581.75 ,then made a low of 11539.60   before closing at 11570.90

Had mentioned that long trade will get triggered for the day on sustaining above 11575 and short trade will get triggered for the day on sustaining below 11530. Nifty triggered our long trade at opening but could not sustain and then traded sideways for the day. 

As mentioned in the previous post " In this week Nifty needs to break and sustain / close above 11525 to test 11585 - 11600 initially and above it we can see a test of 11650 - 11700 . Similarly Nifty needs to break and sustain / close below 11415 to test 11355 - 11340 initially and below it we can see a test of 11290 - 11235 ." , and Nifty had triggered our long trade for the week and nearly tested our initial targets with a high of 11581.75 .

Had mentioned previously " 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 .  Now Nifty has to break and sustain above 11525 for any further upmove else we can see a dip again till 11340 - 11325 where we  have immediate support. " , and has completed our initial targets and now holding above 11520 in the coming sessions we can see the next move till 11610 - 11690 . 

Now in the coming session Nifty needs to break and sustain above 11595 to test 11615 - 11625 initially and sustaining above it we can see a further upmove till 11645 - 11665. Similarly breaking and sustaining below 11545 we can see a test of 11525 - 11520 initially and breaking and sustaining below it we can see a further correction till 11495 - 11475. 


Nifty Spot Levels for the day are

Long above 11595 for 11610 - 11625 - 11665 , SL 11565

Short below 11545 for 11535 - 11520 - 11475 , SL 11580

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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.