Nifty Spot Outlook for 01st Oct

NIFTY

In the previous session Nifty spot opened at 11008.10, made a high of 11034.10,  then made a low of 10850.30,  before closing at 10930.45

Had mentioned that long trade will get triggered for the day on sustaining above 11015 and short trade will get triggered for the day on sustaining below 10940. Nifty triggered our long   trade at opening but did not sustain and took our stoploss . It then triggered our short trade and did 80 points . 

Now in this week Nifty needs to break and sustain / close above 11005 to test 11085 - 11105 initially and above it we can see a test of 11170 - 11245 . Similarly Nifty needs to break and sustain / close below 10855 to test 10775 - 10755 initially and below it we can see a test of 10690 - 10620 . 

For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . Nifty can face resistance from near 11185 - 11245 zones itself and once should watch the price action incase it nears these levels in the coming week.

Now in the coming session Nifty needs to break and sustain above 10960 to test 10990 - 10995 initially and sustaining above it we can see a further upmove till 11020 - 11050. Similarly breaking and sustaining below 10900 we can see a test of 10870 - 10865 initially and breaking and sustaining below it we can see a further correction till 10840 - 10815 . 

Nifty Spot Levels for the day are

Long above 10960 for 10975 - 10995 - 11050 , SL 10935

Short below 10900 for 10885 - 10865 - 10815, SL 10925

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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.