Wednesday, 5 September 2018

Nifty Spot Outlook for 06th Sep

NIFTY


In the previous session Nifty spot opened at 11514.85 , made a high of 11542.65 then made a low of 11393.85,  before closing at 11476.95

Had mentioned that long trade will get triggered for the day on sustaining above 11545 and short trade will get triggered for the day on sustaining below 11495. Nifty triggered our short trade and did 100 points after taking resistance near our long trigger.

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 had triggered our weekly short trade on Monday and today completed our weekly targets giving 200 points from the short trade . Nifty did not give a close below 11420 for shorts to be carried forward . Now Nifty needs to hold 11450 in the coming sessions for a move back till 11535 - 11570 .
 
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 Nifty has completed our initial targets of 11450 - 11420 after confirming our monthly short trade giving 145 points till now . Now Nifty needs to sustain / close below 11420 for the next move till 11320 - 11205 and sustaining above 11450 we can a bounce back till 11535 - 11570 . 

Now in the coming session Nifty needs to break and sustain above 11500 to test 11530 - 11535 initially and sustaining above it we can see a further upmove till 11555 - 11580. Similarly breaking and sustaining below 11450 we can see a test of 11425 - 11420 initially and breaking and sustaining below it we can see a further correction till 11400 - 11375 . 


Nifty Spot Levels for the day are

Long above 11500 for 11515 - 11535 - 11580 , SL 11470

Short below 11450 for 11435 - 11420 - 11375 , SL 11485

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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.