Monday, 27 August 2018

Nifty Spot Outlook for 28th Aug

NIFTY


In the previous session Nifty spot opened at 11605.85, made a low of 11595.60, then made a high of 11700.95   before closing at 11691.95

Had mentioned that long trade will get triggered for the day on sustaining above 11580 and short trade will get triggered for the day on sustaining below 11535. Nifty triggered our long trade and did 120 points .  

Had mentioned " In this week Nifty needs to break and sustain / close above 11615 to test 11680 - 11695 initially and above it we can see a test of 11750 - 11810 . Similarly Nifty needs to break and sustain / close below 11495 to test 11435 - 11420 initially and below it we can see a test of 11365 - 11305 ." , and Nifty triggered our weekly longs and completed our initial targets with a high of 11700.95 . Now in the coming sessions Nifty needs to sustain above 11695 for the next move till 11750 - 11810 and being unable to do so we can see a pullback till 11635 - 11615 .

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 .  " , and Nifty completed all our long targets for the month with a high of 11700.95 giving us 270 points from the positional trade. 

Now in the coming session Nifty needs to break and sustain above 11720 to test 11745 - 11755 initially and sustaining above it we can see a further upmove till 11775 - 11800. Similarly breaking and sustaining below 11665 we can see a test of 11640 - 11630 initially and breaking and sustaining below it we can see a further correction till 11610 - 11585 . 


Nifty Spot Levels for the day are

Long above 11720 for 11735 - 11755 - 11800 , SL 11685

Short below 11665 for 11650 - 11630 - 11585 , SL 11700

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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.