Thursday, 3 January 2019

Nifty Spot Outlook for 04th Jan

NIFTY


In the previous session Nifty spot opened at 10796.80 made a high of 10814.05 ,  made a low of 10661.25  before closing at 10672.25

Had mentioned that long trade will get triggered for the day on sustaining above 10830 and short trade will get triggered for the day on sustaining below 10755. Nifty triggered our short trade for the day and nearly completed all daily targets giving 90 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 10661.25 testing our initial target of 10675 - 10650 . Now sustaining below 10650 in the coming session we can see a test of 10570 - 10480 . Those who had entered shorts should have booked once near 10675 or should now move their cbsl from 10835 to 10740 .

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 10710 to test 10745 - 10755 initially and sustaining above it we can see a further upmove till 10790 - 10825. Similarly breaking and sustaining below 10635 we can see a test of 10600 - 10590 initially and breaking and sustaining below it we can see a further correction till 10555 - 10520.. 


Nifty Spot Levels for the day are

Long above 10710 for 10730 - 10755 - 10825 , SL 10680

Short below 10635 for 10615 - 10590 - 10520 , SL 10665

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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.

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