Tuesday, 4 December 2018

Nifty Spot Outlook for 05th Dec

NIFTY


In the previous session Nifty spot opened at 10877.10, made a high of 10890.95 ,  made a low of 10833.35,  before closing at 10869.50

Had mentioned that long trade will get triggered for the day on sustaining above 10915 and short trade will get triggered for the day on sustaining below 10855. Nifty triggered our short trade and did just 1 target giving 20 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. So far this week Nifty has been trading sideways between our long and short weekly trigger levels.

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 10895 to test 10920 - 10930 initially and sustaining above it we can see a further upmove till 10950 - 10975. Similarly breaking and sustaining below 10845 we can see a test of 10820 - 10810 initially and breaking and sustaining below it we can see a further correction till 10790 - 10765 .


Nifty Spot Levels for the day are

Long above 10895 for 10910 - 10930 - 10975 , SL 10875

Short below 10845 for 10830 - 10810 - 10765 , SL 10865

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