Wednesday, 24 July 2019

Nifty Spot Outlook for 25th Jul

NIFTY


In the previous session Nifty spot opened at 11322.45,  made a high of 11359.75, made a low of 11229.80  before closing at 11271.30


Had mentioned that long trade will get triggered for the day on sustaining above 11360 and short trade will get triggered for the day on sustaining below 11300. Nifty initially triggered our short trade and nearly completed all targets giving 65+ points. 


For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11500 and then enter for a initial target of 11585 - 11605 and look to hold further only on sustaining or getting a close above 11605 for the next targets of 11675 - 11755. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11340 and then enter for a initial target of 11255 - 11235 and look to hold further only on sustaining or getting a close below 11235 for the next targets of 11165 - 11085. 

Nifty triggered our weekly short trade and completed our initial targets of 11255 - 11235 with a low of 11229.80 giving a good exit  . Now it needs to sustain or close below 11235 in the coming session for the next targets . Holding above 11235 we can see a bounce towards 11340 - 11370. 


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 .



Nifty had confirmed our monthly short trade and made a low of 11229.80 nearly completing all our short targets below 11640 . 

Now Nifty has immediate support at 11235 - 11205 zone and it needs to hold it for any bounce to be expected in the coming sessions this week. 



Now in the coming session Nifty needs to break and sustain above 11300 to test 11325 - 11335 initially and sustaining above it we can see a further upmove till 11360 - 11385. Similarly breaking and sustaining below 11245 we can see a test of 11215 - 11210 initially and breaking and sustaining below it we can see a further correction till 11185 - 11160.


Nifty Spot Levels for the day are

Long above 11300 for 11315 - 11335 - 11385 , SL 11280

Short below 11245 for 11230 - 11210 - 11160 , SL 11265


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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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