Wednesday 26 September 2018

Nifty Spot Outlook for 27th Sep

NIFTY


In the previous session Nifty spot opened at 11145.55 which was also the high for the day,  made a low of 10993.05,  before closing at 11053.80

Had mentioned that long trade will get triggered for the day on sustaining above 11110 and short trade will get triggered for the day on sustaining below 11025. Nifty initially triggered our long trade at opening and did just 30 points before taking our TSL . Nifty then triggered our short trade and did just 1 target . Nifty traded in a narrow sideways range for most of the session.

As mentioned " In this week Nifty needs to break and sustain / close above 11245 to test 11355 - 11385 initially and above it we can see a test of 11475 - 11580 . Similarly Nifty needs to break and sustain / close below 11040 to test 10930 - 10905 initially and below it we can see a test of 10810 - 10710 . " , Nifty had triggered our weekly short trade in the previous session and completed our initial targets with a low of 10882.85 . For further downmove Nifty had to close below 10905 which it did not do today and bounced back . Those who are looking to enter fresh shorts on further bounce in the coming session should keep a stoploss of 11110 . 

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 10866.45 completing all short targets . Nifty exceeded the short targets by another 350 points on the back of panic selling witnessed among many stocks from the financial sectors . 

Now in the coming session Nifty needs to break and sustain above 11095 to test 11135 - 11145 initially and sustaining above it we can see a further upmove till 11185 - 11225. Similarly breaking and sustaining below 11015 we can see a test of 10970 - 10960 initially and breaking and sustaining below it we can see a further correction till 10925 - 10885 . 


Nifty Spot Levels for the day are

Long above 11095 for 11120 - 11145 - 11225 , SL 11065

Short below 11015 for 10990 - 10960 - 10885 , SL 11040

Expected Expiry Range is

Upper End - 11153

Lower End - 10955

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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.

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