Tuesday, 27 November 2018

Nifty Spot Outlook for 27th Nov

NIFTY


In the previous session Nifty spot opened at 10568.30, made a low of 10489.75 ,  made a high of 10637.80,  before closing at 10628.60

Had mentioned that long trade will get triggered for the day on sustaining above 10555 and short trade will get triggered for the day on sustaining below 10495. Nifty initially triggered our short trade but could not sustain and took our stoploss of 25 points . It then triggered our long trade and did 80 points. 

As mentioned " 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 ." , and today Nifty confirmed our weekly long trade and we can see a test of 10685 - 10705 initially in the coming sessions.

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 had done 100 points above 10660 and then reversed last week .

Now in the coming session Nifty needs to break and sustain above 10660 to test 10685 - 10695 initially and sustaining above it we can see a further upmove till 10720 - 10750. Similarly breaking and sustaining below 10600 we can see a test of 10570 - 10560 initially and breaking and sustaining below it we can see a further correction till 10535 - 10505 .


Nifty Spot Levels for the day are

Long above 10660 for 10675 - 10695 - 10750 , SL 10635

Short below 10600 for 10585 - 10560 - 10505 , SL 10620

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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.