Sunday, 2 September 2018

Nifty Spot Outlook for 03rd Sep

NIFTY


In the previous session Nifty spot opened at 11675.85, made a low of 11640.10, made a high of 11727.65   before closing at 11680.50

Had mentioned that long trade will get triggered for the day on sustaining above 11700 and short trade will get triggered for the day on sustaining below 11655. Nifty triggered both our short and long trade and did just 1 target on each side and whipsawed traders  .  

In this week Nifty needs to break and sustain / close above 11735 to test 11795 - 11805 initially and above it we can see a test of 11855 - 11910 . Similarly Nifty needs to break and sustain / close below 11625 to test 11570 - 11535 initially and below it we can see a test of 11505 - 11450 .
 
For the month of September ,Nifty longs will get confirmed with a consecutive close above 11795 for a initial target of 11915 - 11940 and sustaining / closing above it we can see a further test of 12045 - 12155 . Similarly , shorts will get confirmed with a consecutive close below  11565 for a initial target of 11450 - 11420 and sustaining / closing below it we can see a further move till 11320 - 11205 .  

Now in the coming session Nifty needs to break and sustain above 11700 to test 11725 - 11730 initially and sustaining above it we can see a further upmove till 11745 - 11770. Similarly breaking and sustaining below 11660 we can see a test of 11640 - 11635 initially and breaking and sustaining below it we can see a further correction till 11615 - 11595 . 


Nifty Spot Levels for the day are

Long above 11700 for 11715 - 11730 - 11770 , SL 11675

Short below 11660 for 11645 - 11635 - 11595 , SL 11687

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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.