Wednesday, 2 January 2019

Nifty Spot Outlook for 03rd Jan

NIFTY


In the previous session Nifty spot opened at 10868.85 made a high of 10895.35 ,  made a high of 10735.05  before closing at 10792.50

Had mentioned that long trade will get triggered for the day on sustaining above 10945 and short trade will get triggered for the day on sustaining below 10875. Nifty triggered our short trade for the day and completed all daily targets and also triggered our weekly short giving 150 points . 

As mentioned " For this week Nifty needs to break and sustain / close above 10950 to test 11045 - 11070 initially and above it we can see a test of 11150 - 11240 . Similarly Nifty needs to break and sustain / close below 10770 to test 10675 - 10650 initially and below it we can see a test of 10570 - 10480." , and Nifty triggered our weekly short trade and made a low of 10735 . Now sustaining below 10770 in the coming session we can see a test of 10715 - 10675 . Those who are holding shorts should keep a cbsl of 10835 .

For the month of January , longs in Nifty will get confirmed with a consecutive close above 10960 for a initial target of 11145 - 11195 and sustaining / closing above it we can see a further test of 11355 - 11530 . Similarly , shorts will get confirmed with a consecutive close below  10600 for a initial target of 10415 - 10370 and sustaining / closing below it we can see a further move till 10205 - 10030 . 

Now in the coming session Nifty needs to break and sustain above 10830 to test 10865 - 10875 initially and sustaining above it we can see a further upmove till 10905 - 10940. Similarly breaking and sustaining below 10755 we can see a test of 10720 - 10710 initially and breaking and sustaining below it we can see a further correction till 10680 - 10645 . 


Nifty Spot Levels for the day are

Long above 10830 for 10850 - 10875 - 10940 , SL 10800

Short below 10755 for 10735 - 10710 - 10645 , SL 10785

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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.