Sunday, 6 January 2019

Nifty Spot Outlook for 07th Jan

NIFTY


In the previous session Nifty spot opened at 10699.70 made a low of 10628.65 ,  made a high of 10741.05  before closing at 10727.35

Had mentioned that long trade will get triggered for the day on sustaining above 10710 and short trade will get triggered for the day on sustaining below 10635. Nifty initially triggered our short trade for the day and reversed immediately . It then triggered our long trade and did just 30 points . 

For this week Nifty needs to break and sustain / close above 10805 to test 10890 - 10910 initially and above it we can see a test of 10985 - 11060 . Similarly Nifty needs to break and sustain / close below 10650 to test 10565 - 10545 initially and below it we can see a test of 10475 - 10395.

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 10760 to test 10790 - 10795 initially and sustaining above it we can see a further upmove till 10825 - 10855. Similarly breaking and sustaining below 10695 we can see a test of 10665 - 10660 initially and breaking and sustaining below it we can see a further correction till 10630 - 10600. 


Nifty Spot Levels for the day are

Long above 10760 for 10775 - 10795 - 10855 , SL 10735

Short below 10695 for 10680 - 10660 - 10600 , SL 10720

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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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