Monday, 26 November 2018

Nifty Spot Outlook for 26th Nov

NIFTY


In the previous session Nifty spot opened at 10612.65, made a high of 10646.25 ,  made a low of 10512,  before closing at 10526.75

Had mentioned that long trade will get triggered for the day on sustaining above 10630 and short trade will get triggered for the day on sustaining below 10570. Nifty initially triggered our long trade and did 1 target then took our TSL. Nifty then triggered our short trade and did nearly 50 points. 

Now in this week Nifty needs to break and sustain / close above 10605 to test 10685 - 10705 initially and above it we can see a test of 10775 - 10855 . Similarly Nifty needs to break and sustain / close below 10450 to test 10370 - 10350 initially and below it we can see a test of 10280 - 10200 .

Also as mentioned "For the month of November , further longs will get confirmed with a consecutive close above 10660 for a initial target of 10945 - 11020 and sustaining / closing above it we can see a further test of 11265 - 11535 . Similarly , shorts will get confirmed with a consecutive close below  10115 for a initial target of 9830 - 9755 and sustaining / closing below it we can see a further move till 9510 - 9235 . ", and Nifty did 100 points above 10660 and then reversed last week .

Now in the coming session Nifty needs to break and sustain above 10555 to test 10585 - 10595 initially and sustaining above it we can see a further upmove till 10620 - 10650. Similarly breaking and sustaining below 10495 we can see a test of 10465 - 10460 initially and breaking and sustaining below it we can see a further correction till 10435 - 10405 .


Nifty Spot Levels for the day are

Long above 10555 for 10575 - 10595 - 10650 , SL 10535

Short below 10495 for 10480 - 10460 - 10405 , SL 10520

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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.