Wednesday, 3 July 2019

Nifty Spot Outlook for 04th Jul

NIFTY


In the previous session Nifty spot opened at 11932.15  made a high of 11945.20 , made a low of 11887.05,  before closing at 11916.75


Had mentioned that long trade will get triggered for the day on sustaining above 11940 and short trade will get triggered for the day on sustaining below 11880. Nifty triggered our long trade but took our stoploss and post that traded between our long and short trigger levels indicating indecisiveness. 


For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11860 and then enter for a initial target of 11935 - 11955 and look to hold further only on sustaining or getting a close above 11955 for the next targets of 12020 - 12090. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11715 and then enter for a initial target of 11640 - 11620 and look to hold further only on sustaining or getting a close below 11620 for the next targets of 11555 - 11485.


As mentioned in the previous post " Nifty has today confirmed its weekly longs and sustaining above 11860 in the coming sessions we can see a test of 11935 - 11955 initially. Those who have entered longs today should keep a trailing cbsl of 11810 for the coming session.", Nifty today completed our initial targets with a high of 11945.20 giving a good exit to the weekly long trade .Now in the coming session Nifty needs to sustain / close above 11955 to enter for the next targets . 



For the month of July , longs will get confirmed in Nifty with a consecutive close above 11940 for a initial target of 12095 - 12135 and sustaining / closing above it we can see a further move till 12270 - 12420 .  Similarly shorts will get confirmed with a consecutive close below 11640 for  a initial target of 11480 - 11440 and sustaining / closing below it we can see a further move till 11305 - 11155 .



Now on the downside Nifty has immediate support near 11670 - 11640 and it needs to hold this levels on closing basis in the month of July on a correction for a bounce .





Now in the coming session Nifty needs to break and sustain above 11940 to test 11965 - 11975 initially and sustaining above it we can see a further upmove till 11995 - 12015. Similarly breaking and sustaining below 11895 we can see a test of 11870 - 11860 initially and breaking and sustaining below it we can see a further correction till 11840 - 11820


Nifty Spot Levels for the day are

Long above 11940 for 11955 - 11975 - 12015 , SL 11925

Short below 11895 for 11880 - 11860 - 11820 , SL 11910


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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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