Wednesday, 28 November 2018

Nifty Spot Outlook for 29th Nov

NIFTY


In the previous session Nifty spot opened at 10708.75, made a low of 10699.85 ,  made a high of 10757.80,  before closing at 10728.85

Had mentioned that long trade will get triggered for the day on sustaining above 10715 and short trade will get triggered for the day on sustaining below 10655. Nifty initially triggered our long trade completed 2 targets giving 40 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 Nifty had confirmed our weekly long trade on Monday and today we saw a high of 10757.80 . Those who are holding longs should keep a trailing stoploss now of 10685 . 

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 Nifty has again give a close above 10660 and can approach its resistance zone of 10775 - 10875 from where it had reversed earlier this month.

Now in the coming session Nifty needs to break and sustain above 10755 to test 10785 - 10795 initially and sustaining above it we can see a further upmove till 10815 - 10845. Similarly breaking and sustaining below 10700 we can see a test of 10675 - 10665 initially and breaking and sustaining below it we can see a further correction till 10640 - 10615 .


Nifty Spot Levels for the day are

Long above 10755 for 10775 - 10795 - 10845 , SL 10735

Short below 10700 for 10685 - 10665 - 10615 , SL 10720

Expiry Expected Range is as follows 

Upper End - 10830 

Lower End - 10630

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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.