Thursday, 29 November 2018

Nifty Spot Outlook for 30th Nov

NIFTY


In the previous session Nifty spot opened at 10808.70, made a low of 10782.35 ,  made a high of 10883.05,  before closing at 10858.70

Had mentioned that long trade will get triggered for the day on sustaining above 10755 and short trade will get triggered for the day on sustaining below 10700. Nifty triggered our long trade with a gap up and did 100 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 10883.05 completing all our weekly long targets giving 300 points .

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 again gave a close above 10660 this week and today made a high of 10883.05 just breaking above its resistance zone of 10775 - 10875 . Now Nifty needs to hold above 10775 on closing basis incase of a mild correction to move further towards 10945 - 11020 . 

Now in the coming session Nifty needs to break and sustain above 10890 to test 10925 - 10930 initially and sustaining above it we can see a further upmove till 10955 - 10990. Similarly breaking and sustaining below 10830 we can see a test of 10795 - 10785 initially and breaking and sustaining below it we can see a further correction till 10760 - 10730 .


Nifty Spot Levels for the day are

Long above 10890 for 10910 - 10930 - 10990 , SL 10865

Short below 10830 for 10810 - 10785 - 10730 , SL 10850

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