Saturday, 27 October 2018

Bank Nifty Spot Outlook for 29th Oct

BANK NIFTY


In the previous session Bank Nifty spot opened at 24771.85, made a high of 24771.95,  made a low of 24353.10,  before closing at 24421.05 .

Had mentioned that long trade for the day will get triggered on sustaining above 24920 and short trade for the day will get triggered on sustaining below 24715 . Bank Nifty triggered our short trade and did 340 points.

Now in this week Bank Nifty needs to break and sustain / close above 24615 to test 24820 - 24870 initially and above it we can see a test of 25045 - 25235 . Similarly Bank Nifty needs to break and sustain / close below 24230 to test 24025 - 23975 initially and below it we can see a test of 23800 - 23605.

Also as mentioned " For the month of October ,Bank Nifty longs will get confirmed with a consecutive close above 25780 for a initial target of 26480 - 26655 and sustaining / closing above it we can see a further test of 27255 - 27915 . Similarly , shorts will get confirmed with a consecutive close below  24460 for a initial target of 23765 - 23585 and sustaining / closing below it we can see a further move till 22985 - 22325 . " , and Bank Nifty bounced back strongly as it was unable to give a consecutive close below 24460 to confirm the shorts .  Also as mentioned "  So far this month Nifty had confirmed its monthly shorts and has already completed all its short targets and Bank has yet to confirm its monthly shorts and has been showing outperformance so far. Now Bank Nifty needs to sustain above 24950 for a pullback again else sustaining below it we can see a move towards 24485 - 24365 ", and Bank Nifty made  a low of 24353.10 and has given a close below 24460 on Friday . Now a consecutive close below 24460 will confirm further correction . As per expiry Bank Nifty has good support near 24255 and failing to get a consecutive close below it can take Bank Nifty back till 25165 - 25380 where it has strong resistance now.

Now in the coming session Bank Nifty needs to break and sustain above 24495 to test 24570 - 24590 initially and sustaining above it we can see a further upmove till 24655 - 24730. Similarly breaking and sustaining below 24345 we can see a test of 24270 - 24250 initially and sustaining below it we can see a further correction till 24185 - 24115.


Bank Nifty Spot Levels for the day are

Long above 24495 for 24540 - 24590 - 24730 , SL 24440

Short below 24345 for 24305 - 24250 - 24115 , SL 24400

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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.

Nifty Spot Outlook for 29th Oct

NIFTY


In the previous session Nifty spot opened at 10122.35, made a high of 10128.85 ,  made a low of 10004.55,  before closing at 10030

Had mentioned that long trade will get triggered for the day on sustaining above 10170 and short trade will get triggered for the day on sustaining below 10075. Nifty triggered our short trade  and did 70 points.

Now in this week Nifty needs to break and sustain / close above 10115 to test 10200 - 10220 initially and above it we can see a test of 10295 - 10375 . Similarly Nifty needs to break and sustain / close below 9945 to test 9860 - 9840 initially and below it we can see a test of 9765 - 9685 .

Also as mentioned " For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . " , and Nifty confirmed our monthly shorts and has completed all our short targets  giving 500 points from the short trade and has made a low of 10102.35 till now in October . Also had mentioned " Now in the coming sessions Nifty needs to sustain / close below 10160 for a further move till 10070 - 9970 where one should book shorts . " , and Nifty made a low of 10004.55 today . As per expiry Nifty has good support near 9875 and failing to get a consecutive close below it can take Nifty back till 10275 - 10375  where it has strong resistance now. 

Now in the coming session Nifty needs to break and sustain above 10060 to test 10095 - 10105 initially and sustaining above it we can see a further upmove till 10130 - 10160. Similarly breaking and sustaining below 10000 we can see a test of 9965 - 9955 initially and breaking and sustaining below it we can see a further correction till 9930 - 9900 .


Nifty Spot Levels for the day are

Long above 10060 for 10080 - 10105 - 10160 , SL 10040

Short below 10000 for 9980 - 9955 - 9900 , SL 10020

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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.

Weekly Spot Outlook Of Bank Nifty for 29th Oct to 02nd Nov

BANK NIFTY

This week Bank Nifty spot went up by 419 points , then went down by 733 points before finally ending the week with a loss of 665 points compared to last weekly closing.


As per levels given for the previous week Bank Nifty Spot needed to sustain and close above 25500 to trigger uptrend and Bank Nifty spot needed to sustain and close below 24675 to trigger downtrend for the week. Bank Nifty made a high of 25504.75 and made a low of 24353.10 for the week . 


As mentioned in the previous weekly post " Now in the coming week Bank Nifty needs to break and sustain / close above 25500 for a test of 25935 - 26050 initially and closing above it we can see a further move till 26425 - 26835 . Similarly on sustaining / closing below 24675 we can see a test of 24235 - 24125 initially and closing below it we can see a test of 23750 - 23335. Those who are looking to enter fresh long positions should wait for Bank Nifty to sustain / close above 25500 and enter with a stoploss of 25325 and look to hold further only on getting a close above 25935 - 26050 zone. Those who are looking to enter fresh shorts should wait for Bank Nifty to sustain / close below 24675 and enter with a stoploss of 24850 and look to hold further only on getting a close below 24235 - 24125 zone . " , and Bank Nifty reversed from 25500 levels to trigger our weekly shorts and made a low of 24353.10 giving 450 points . 


Now in the coming week Bank Nifty needs to break and sustain / close above 24615 for a test of 24820 - 24870 initially and closing above it we can see a further move till 25045 - 25235. Similarly on sustaining / closing below 24230 we can see a test of 24025 - 23975 initially and closing below it we can see a test of 23800 - 23605 . Those who are looking to enter fresh long positions should wait for Bank Nifty to sustain / close above 24615 and enter with a stoploss of 24480 and look to hold further only getting a close above 24820 - 24870 zone . Those who are looking to enter fresh shorts should wait for Bank Nifty to sustain / close below 24230 and enter with a stoploss of 24360 and look to hold further only on getting a close below 24025 - 23975 zone . 

Also as mentioned at the beginning of the month " For the month of October Bank Nifty monthly longs will be confirmed with a consecutive close above 25780 for a initial target of 26480 - 26655 and sustaining / closing above it we can see a further move till 27255 - 27915. Similarly Bank Nifty shorts will be confirmed with a consecutive close below 24460 for a initial target of 23765 - 23585 and sustaining / closing below it we can see a further move till 22985 - 22325.  For the month of September Bank Nifty triggered our short trade and did 2000+ points on the short side .  " , and Bank Nifty closed at 24421.05 on Friday and it needs to give a consecutive close below 24460 to confirm short trade .  Bank Nifty had been holding more strongly throughout October series compared to the Nifty  . Now we will need a consecutive close below 24460 to take short positions .


Bank Nifty Spot Levels for the week are

Long above 24540 , Tgt 24615 - 24675 - 24735

IF Bank Nifty spot manages to get a close / sustain above 24820 then 

long again for 24870 - 25045 - 25235

Short below 24300 , Tgt 24230 - 24170 - 24110

IF Bank Nifty spot manages to get a close / sustain below 24025 then 

short again for 23975 - 23800 - 23605


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels and continue trailing it further .

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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.

Weekly Spot Outlook Of Nifty for 29th Oct to 02nd Nov

NIFTY

This week Nifty went up by 105 points , then went down by 299 points before finally ending the week with a loss of 273 points compared to last weekly closing. 

As per levels given for the previous week Nifty Spot needed to sustain and close above 10445 to confirm uptrend and Nifty spot needed to sustain and close below 10290 to confirm downtrend for the week. Nifty made a high of 10408.55 and made a low of 10004.55

As mentioned in the previous weekly post " Now in the coming week Nifty needs to break and sustain above 10445 to test 10600 - 10635 initially and above it we can see a test of 10765 - 10910. Breaking and sustaining below 10160 we can see a test of 10010 - 9970 initially and below it we can see a test of 9840 - 9700 . Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 10445 to enter with a stoploss of 10345 and look to hold further only on getting a close above 10595 - 10635 zone . Those who are looking to enter fresh shorts should wait for Nifty to sustain / close below 10160 to enter with a stoploss of 10260 and look to hold further only on getting a close below 9845 - 9700 zone . Incase of a bounce towards 10400 aggressive shorts can look at shorting with a stoploss of 10450" , and we saw Nifty make a high of 10408.55 and get sold off immediately and it then triggered our short trade and made a low of 10004.55 testing our initial short target zone of 10010 - 9970 giving 200 points from the weekly short trade and those who would have shorted near 10400 would have got 175 points more . 


Now in the coming week Nifty needs to break and sustain above 10115 to test 10200 - 10220 initially and above it we can see a test of 10295 - 10375 . Breaking and sustaining below 9945 we can see a test of 9860 - 9840 initially and below it we can see a test of 9765 - 9685. Those who looking to enter fresh longs should wait for Nifty to sustain / close above 10115 to enter with a stoploss of 10055 and look to hold further only on getting a close above 10200 - 10220 zone . Those who are looking to enter fresh shorts should wait for Nifty to sustain / close below 9945 to enter with a stoploss of 10005 and look to hold further only on getting a close below 9860 - 9840 zone . Incase of a consecutive close above 10375 longs can be held for a further move till 10450 - 10525 as per expiry levels . Those who are looking to take fresh shorts near 10350 - 10375 should keep a strict stoploss of  10450.


As mentioned at the beginning of this month "For the month of October , longs will get confirmed in Nifty with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further move till 11425 - 11580 .  Similarly shorts will get confirmed with a consecutive close below 10775 for  a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . In the month of September Nifty gave 700+ points from the short trade . " , and we saw Nifty confirm our monthly short trade and complete all our short targets and also exceed it by 280 points  making a low of 10004.55 giving us 780 points from the monthly short trade . Nifty has strong resistance near 10775 - 10885 which needs to crossed strongly on a closing basis now for a stronger pullback and making the bear grip weak . Stoploss for positional shorts is at 10890 and unless we get a strong close above it bears will have the upper hand. 


Nifty Spot Levels for the week are

Long above 10080 , Tgt  10115 - 10135 - 10165

IF Nifty spot manages to get a close / sustain above 10200 then ,

long again for 10220 - 10295 - 10375

Short below 9980 , Tgt 9945 - 9925 - 9895

IF Nifty spot manages to get a close / sustain below 9860 then, 

short again for 9840 - 9765 - 9685

P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels and keep trailing your stoploss .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.

Thursday, 25 October 2018

Bank Nifty Spot Outlook for 26th Oct

BANK NIFTY


In the previous session Bank Nifty spot opened at 24841.50, made a high of 24977.35,  made a low of 24696.85,  before closing at 24817.45 .

Had mentioned that long trade for the day will get triggered on sustaining above 25185 and short trade for the day will get triggered on sustaining below 24945 . Bank Nifty triggered our short trade and did 250 points.

Had mentioned " Now in this week Bank Nifty needs to break and sustain / close above 25500 to test 25935 - 26050 initially and above it we can see a test of 26425 - 26835 . Similarly Bank Nifty needs to break and sustain / close below 24675 to test 24235 - 24125 initially and below it we can see a test of 23750 - 23325." , and Bank Nifty has continued trading in the range of 24675 - 25500 till now and it needs to break and sustain this range on any side for a good move .

Also as mentioned " For the month of October ,Bank Nifty longs will get confirmed with a consecutive close above 25780 for a initial target of 26480 - 26655 and sustaining / closing above it we can see a further test of 27255 - 27915 . Similarly , shorts will get confirmed with a consecutive close below  24460 for a initial target of 23765 - 23585 and sustaining / closing below it we can see a further move till 22985 - 22325 . " , and Bank Nifty bounced back strongly as it was unable to give a consecutive close below 24460 to confirm the shorts .  Also as mentioned "  So far this month Nifty had confirmed its monthly shorts and has already completed all its short targets and Bank has yet to confirm its monthly shorts and has been showing outperformance so far. ", and Bank Nifty has been trading mostly between 24460 - 25780 so far this month.  Now Bank Nifty needs to sustain above 24950 for a pullback again else sustaining below  it we can see a move towards 24485 - 24365 . 

Now in the coming session Bank Nifty needs to break and sustain above 24920 to test 25030 - 25055 initially and sustaining above it we can see a further upmove till 25150 - 25250. Similarly breaking and sustaining below 24715 we can see a test of 24605 - 24580 initially and sustaining below it we can see a further correction till 24485 - 24385.


Bank Nifty Spot Levels for the day are

Long above 24920 for 24985 - 25055 - 25250 , SL 24850

Short below 24715 for 24650 - 24580 - 24385 , SL 24785

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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.

Nifty Spot Outlook for 26th Oct

NIFTY


In the previous session Nifty spot opened at 10135.15, made a low of 10079.30 ,  made a high of 10166.60,  before closing at 10124.90

Had mentioned that long trade will get triggered for the day on sustaining above 10275 and short trade will get triggered for the day on sustaining below 10175. Nifty triggered our short trade with a gap down and did not give a proper chance to enter  . 

As mentioned " Now in this week Nifty needs to break and sustain / close above 10445 to test 10600 - 10635 initially and above it we can see a test of 10765 - 10910 . Similarly Nifty needs to break and sustain / close below 10160 to test 10010 - 9970 initially and below it we can see a test of 9840 - 9700 .So far Nifty is trading the range of 10160 - 10445 and we should get a break of this range for a good move . " , and Nifty had triggered our weekly short trade in the previous session and today completed our initial 3 targets giving 130 points . Now sustaining below 10075 is required for a test of 10010 - 9970 in the coming sessions . Those who are holding shorts should keep a trailing cbsl of 10160 now .

Also as mentioned " For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . " , and Nifty confirmed our monthly shorts and has completed all our short targets  giving 500 points from the short trade and has made a low of 10102.35 till now in October . Also had mentioned " Now in the coming sessions Nifty needs to sustain / close below 10160 for a further move till 10070 - 9970 where one should book shorts . As we have 2 days left for expiry we can expect some pullback in the next days." , and Nifty made a low of 10079.30 near 10070 today giving a good exit to shorts . Now in the coming sessions sustaining above 10075 Nifty can bounce back till 10215 - 10260 again.  

Now in the coming session Nifty needs to break and sustain above 10170 to test 10220 - 10230 initially and sustaining above it we can see a further upmove till 10270 - 10315. Similarly breaking and sustaining below 10075 we can see a test of 10030 - 10020 initially and breaking and sustaining below it we can see a further correction till 9980 - 9935 .


Nifty Spot Levels for the day are

Long above 10170 for 10200 - 10230 - 10315 , SL 10140

Short below 10075 for 10050 - 10020 - 9935 , SL 10110

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

Wednesday, 24 October 2018

Bank Nifty Spot Outlook for 25th Oct

BANK NIFTY


In the previous session Bank Nifty spot opened at 25312.70, made a high of 25356.90,  made a low of 24839.65,  before closing at 25064.20 .

Had mentioned that long trade for the day will get triggered on sustaining above 25130 and short trade for the day will get triggered on sustaining below 24815 . Bank Nifty triggered our long trade with a big gap up and did not give a entry to trade . 

Had mentioned " Now in this week Bank Nifty needs to break and sustain / close above 25500 to test 25935 - 26050 initially and above it we can see a test of 26425 - 26835 . Similarly Bank Nifty needs to break and sustain / close below 24675 to test 24235 - 24125 initially and below it we can see a test of 23750 - 23325." , and Bank Nifty has been trading in the range of 24675 - 25500 till now and it needs to break and sustain this range on any side for a good move .

Also as mentioned " For the month of October ,Bank Nifty longs will get confirmed with a consecutive close above 25780 for a initial target of 26480 - 26655 and sustaining / closing above it we can see a further test of 27255 - 27915 . Similarly , shorts will get confirmed with a consecutive close below  24460 for a initial target of 23765 - 23585 and sustaining / closing below it we can see a further move till 22985 - 22325 . " , and Bank Nifty bounced back strongly as it was unable to give a consecutive close below 24460 to confirm the shorts .  Also as mentioned "  So far this month Nifty had confirmed its monthly shorts and has already completed all its short targets and Bank has yet to confirm its monthly shorts and has been showing outperformance so far. Incase Bank Nifty fails to give a consecutive close above 25780 we can see a it go back to 25100 - 25000  again.", and Bank Nifty failed to sustain above 25780 and made a low of 24922.65. Now Bank Nifty needs to hold above 24950 for a pullback again else breaking / sustaining below  it we can see a move towards 24485 - 24365 . 

Now in the coming session Bank Nifty needs to break and sustain above 25185 to test 25310 - 25345 initially and sustaining above it we can see a further upmove till 25450 - 25570. Similarly breaking and sustaining below 24945 we can see a test of 24820 - 24785 initially and sustaining below it we can see a further correction till 24680 - 24560.


Bank Nifty Spot Levels for the day are

Long above 25185 for 25260 - 25345 - 25570 , SL 25100

Short below 24945 for 24870 - 24785 - 24560 , SL 25030

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

Nifty Spot Outlook for 25th Oct

NIFTY


In the previous session Nifty spot opened at 10278.15, made a high of 10290.65 ,  made a low of 10126.70,  before closing at 10224.75

Had mentioned that long trade will get triggered for the day on sustaining above 10200 and short trade will get triggered for the day on sustaining below 10095. Nifty triggered our long trade with a gap up and did not give a chance to enter  . 

As mentioned " Now in this week Nifty needs to break and sustain / close above 10445 to test 10600 - 10635 initially and above it we can see a test of 10765 - 10910 . Similarly Nifty needs to break and sustain / close below 10160 to test 10010 - 9970 initially and below it we can see a test of 9840 - 9700 .So far Nifty is trading the range of 10160 - 10445 and we should get a break of this range for a good move . " , and today Nifty triggered our weekly short trade and did 100 points completing 2 targets and now sustaining below 10160 is required for a test of 10010 - 9970 in the coming sessions . Those who are holding shorts should keep a stoploss of 10260 .

Also as mentioned " For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . " , and Nifty confirmed our monthly shorts and has completed all our short targets  giving 500 points from the short trade and has made a low of 10102.35 till now in October . Also had mentioned " Now in the coming sessions Nifty needs to sustain / close below 10160 for a further move till 10070 - 9970 where one should book shorts . As we have 2 days left for expiry we can expect some pullback in the next days." , Nifty had made a low of 10102.35 near 10070 and has bounced back so far.

Now in the coming session Nifty needs to break and sustain above 10275 to test 10330 - 10345 initially and sustaining above it we can see a further upmove till 10390 - 10445. Similarly breaking and sustaining below 10175 we can see a test of 10120 - 10105 initially and breaking and sustaining below it we can see a further correction till 10060 - 10010 .


Nifty Spot Levels for the day are

Long above 10275 for 10310 - 10345 - 10445 , SL 10240

Short below 10175 for 10140 - 10105 - 10010 , SL 10210

Expected Expiry Range is 

Upper End - 10326

Lower End - 10124


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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.

Tuesday, 23 October 2018

Bank Nifty Spot Outlook for 24th Oct

BANK NIFTY


In the previous session Bank Nifty spot opened at 24786.90, made a low of 24784.90,  made a high of 25124.60,  before closing at 24972.45.

Had mentioned that long trade for the day will get triggered on sustaining above 25235 and short trade for the day will get triggered on sustaining below 24920 . Bank Nifty triggered our short trade with a big gap down and did not give a entry to trade . 

Had mentioned " Now in this week Bank Nifty needs to break and sustain / close above 25500 to test 25935 - 26050 initially and above it we can see a test of 26425 - 26835 . Similarly Bank Nifty needs to break and sustain / close below 24675 to test 24235 - 24125 initially and below it we can see a test of 23750 - 23325." , and Bank Nifty has been trading in the range of 24675 - 25500 till now and it needs to break and sustain this range on any side for a good move .

Also as mentioned " For the month of October ,Bank Nifty longs will get confirmed with a consecutive close above 25780 for a initial target of 26480 - 26655 and sustaining / closing above it we can see a further test of 27255 - 27915 . Similarly , shorts will get confirmed with a consecutive close below  24460 for a initial target of 23765 - 23585 and sustaining / closing below it we can see a further move till 22985 - 22325 . " , and Bank Nifty bounced back strongly as it was unable to give a consecutive close below 24460 to confirm the shorts .  Also as mentioned "  So far this month Nifty had confirmed its monthly shorts and has already completed all its short targets and Bank has yet to confirm its monthly shorts and has been showing outperformance so far. Incase Bank Nifty fails to give a consecutive close above 25780 we can see a it go back to 25100 - 25000  again.", and Bank Nifty failed to sustain above 25780 and made a low of 24922.65. Now Bank Nifty needs to hold above 24950 for a pullback again else breaking / sustaining below  it we can see a move towards 24485 - 24365 . 

Now in the coming session Bank Nifty needs to break and sustain above 25130 to test 25290 - 25335 initially and sustaining above it we can see a further upmove till 25475 - 25630. Similarly breaking and sustaining below 24815 we can see a test of 24655 - 24610 initially and sustaining below it we can see a further correction till 24470 - 24315.


Bank Nifty Spot Levels for the day are

Long above 25130 for 25225 - 25335 - 25630 , SL 25020

Short below 24815 for 24720 - 24610 - 24315 , SL 24925

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

Nifty Spot Outlook for 24th Oct

NIFTY


In the previous session Nifty spot opened at 10152.60, made a high of 10222.10 ,  made a low of 10102.35,  before closing at 10146.80

Had mentioned that long trade will get triggered for the day on sustaining above 10300 and short trade will get triggered for the day on sustaining below 10190. Nifty triggered our short trade and did 85 points . 

As mentioned " Now in this week Nifty needs to break and sustain / close above 10445 to test 10600 - 10635 initially and above it we can see a test of 10765 - 10910 . Similarly Nifty needs to break and sustain / close below 10160 to test 10010 - 9970 initially and below it we can see a test of 9840 - 9700 .So far Nifty is trading the range of 10160 - 10445 and we should get a break of this range for a good move . " , and today Nifty triggered our weekly short trade and did 100 points completing 2 targets and now sustaining below 10160 is required for a test of 10010 - 9970 in the coming sessions . Those who are holding shorts should keep a stoploss of 10260 .

Also as mentioned " For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . " , and Nifty confirmed our monthly shorts and has completed all our short targets  giving 500 points from the short trade and has made a low of 10102.35 till now in October . Now in the coming sessions Nifty needs to sustain / close below 10160 for a further move till 10070 - 9970 where one should book shorts . As we have 2 days left for expiry we can expect some pullback in the next days.

Now in the coming session Nifty needs to break and sustain above 10200 to test 10260 - 10275 initially and sustaining above it we can see a further upmove till 10325 - 10375. Similarly breaking and sustaining below 10095 we can see a test of 10035 - 10020 initially and breaking and sustaining below it we can see a further correction till 9970 - 9920 . 


Nifty Spot Levels for the day are

Long above 10200 for 10235 - 10275 - 10375 , SL 10165

Short below 10095 for 10060 - 10020 - 9920 , SL 10130

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.