Thursday, 27 September 2018

Nifty Spot Outlook for 28th Sep

NIFTY


In the previous session Nifty spot opened at 11079.80, made a high of 11089.45,  then made a low of 10953.35,  before closing at 10977.55

Had mentioned that long trade will get triggered for the day on sustaining above 11095 and short trade will get triggered for the day on sustaining below 11015. Nifty triggered our short  and did 60 points . 

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 and bounced back . Also as mentioned " Those who are looking to enter fresh shorts on further bounce in the coming session should keep a stoploss of 11110 . " , and Nifty made a high of 11089.45 and corrected by 130 point today.

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 11015 to test 11055 - 11065 initially and sustaining above it we can see a further upmove till 11100 - 11135. Similarly breaking and sustaining below 10940 we can see a test of 10900 - 10890 initially and breaking and sustaining below it we can see a further correction till 10855 - 10820 . 


Nifty Spot Levels for the day are

Long above 11015 for 11035 - 11065 - 11135 , SL 10990

Short below 10940 for 10920 - 10890 - 10820, SL 10965
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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.