Sunday, 2 December 2018

Nifty Spot Outlook for 03rd Dec

NIFTY


In the previous session Nifty spot opened at 10892.10, made a high of 10922.45 ,  made a high of 10835.10,  before closing at 10876.75

Had mentioned that long trade will get triggered for the day on sustaining above 10890 and short trade will get triggered for the day on sustaining below 10830. Nifty triggered our long trade and did 30 points. 

For this week Nifty needs to break and sustain / close above 10960 to test 11045 - 11065 initially and above it we can see a test of 11135 - 11220 . Similarly Nifty needs to break and sustain / close below 10795 to test 10710 - 10690 initially and below it we can see a test of 10615 - 10535 

For the month of December , longs in Nifty will get confirmed with a consecutive close above 11045 for a initial target of 11220 - 11265 and sustaining / closing above it we can see a further test of 11415 - 11585 . Similarly , shorts will get confirmed with a consecutive close below  10710 for a initial target of 10535 - 10490 and sustaining / closing below it we can see a further move till 10340 - 10170 . 

Now in the coming session Nifty needs to break and sustain above 10910 to test 10940 - 10950 initially and sustaining above it we can see a further upmove till 10975 - 11005. Similarly breaking and sustaining below 10845 we can see a test of 10815 - 10805 initially and breaking and sustaining below it we can see a further correction till 10780 - 10750 .


Nifty Spot Levels for the day are

Long above 10910 for 10925 - 10950 - 11005 , SL 10885

Short below 10845 for 10830 - 10805 - 10750 , SL 10870

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