Monday, 3 September 2018

Nifty Spot Outlook for 04th Sep

NIFTY


In the previous session Nifty spot opened at 11751.80 which was also its high for the day, made a low of 11567.40,  before closing at 11582.35

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 11660. Nifty opened with big gap up and did not give a trade to longs . Nifty then triggered our short trade and did 90 points .  

As mentioned " 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 ." , Nifty opened gap up but did not sustain and then triggered our short trade and sustained to complete our initial targets with a low of 11567.40. Now in the coming sessions Nifty has to break and sustain below 11570 - 11535 zone to make a move towards our next targets.Those who are holding shorts should keep a cbsl of 11665 for their trade and can further trail it to 11595 on sustaining / closing below 11555.
 
Also as mentioned " 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 . " , and today Nifty made a low of 11567.40 just above our short confirmation level of 11565 and breaking / sustaining below it in the coming session can see a test of 11450 - 11420 initially . Holding 11565 we can see a bounce till 11630 - 11635 levels .

Now in the coming session Nifty needs to break and sustain above 11605 to test 11630 - 11635 initially and sustaining above it we can see a further upmove till 11660 - 11680. Similarly breaking and sustaining below 11560 we can see a test of 11535 - 11530 initially and breaking and sustaining below it we can see a further correction till 11510 - 11485 . 


Nifty Spot Levels for the day are

Long above 11605 for 11620 - 11635 - 11680 , SL 11575

Short below 11560 for 11545 - 11530 - 11485 , SL 11590

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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.