Sunday, 16 September 2018

Nifty Spot Outlook for 17th Sep

NIFTY


In the previous session Nifty spot opened at 11443.50 , made a low of 11430.55 , then made a high of 11523.25,  before closing at 11515.20

Had mentioned that long trade will get triggered for the day on sustaining above 11405 and short trade will get triggered for the day on sustaining below 11355. Nifty triggered our long trade and did 90 points. 

In this week Nifty needs to break and sustain / close above 11620 to test 11725 - 11755 initially and above it we can see a test of 11850 - 11950 . Similarly Nifty needs to break and sustain / close below 11410 to test 11305 - 11275 initially and below it we can see a test of 11185 - 11080 .

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 had triggered our monthly shorts below 11565 and made a low of 11250.20 nearly completing our last targets of 11320 - 11205 giving us 300 points from the monthly short trade . Now Nifty needs to sustain / close above 11620 - 11650 for move back till 11715 - 11750 and sustaining / closing below 11450 - 11410 we can see a move  till 11350 - 11325  . 

Now in the coming session Nifty needs to break and sustain above 11555 to test 11595 - 11605 initially and sustaining above it we can see a further upmove till 11640 - 11680. Similarly breaking and sustaining below 11475 we can see a test of 11435 - 11425 initially and breaking and sustaining below it we can see a further correction till 11390 - 11350. 


Nifty Spot Levels for the day are

Long above 11555 for 11580 - 11605 - 11680 , SL 11525

Short below 11475 for 11450 - 11425 - 11350 , SL 11505

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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.