Sunday, 9 September 2018

Nifty Spot Outlook for 10th Sep

NIFTY


In the previous session Nifty spot opened at 11558.25 , made a low of 11484.60 then made a high of 11603,  before closing at 11589.10

Had mentioned that long trade will get triggered for the day on sustaining above 11565 and short trade will get triggered for the day on sustaining below 11510. Nifty initially and did one target then reversed to take our TSL . It then triggered our long trade and did 2 targets giving 35 points. 

In this week Nifty needs to break and sustain / close above 11645 to test 11700 - 11715 initially and above it we can see a test of 11760 - 11815 . Similarly Nifty needs to break and sustain / close below 11535 to test 11480 - 11465 initially and below it we can see a test of 11415 - 11365 .
 
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 / closing above 11535 - 11570 we can see a move back till 11625 - 11650  . 

Now in the coming session Nifty needs to break and sustain above 11610 to test 11630 - 11635 initially and sustaining above it we can see a further upmove till 11655 - 11675. Similarly breaking and sustaining below 11570 we can see a test of 11550 - 11545 initially and breaking and sustaining below it we can see a further correction till 11525 - 11505. 


Nifty Spot Levels for the day are

Long above 11610 for 11620 - 11635 - 11675 , SL 11585

Short below 11570 for 11555 - 11545 - 11505 , SL 11595

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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.