Sunday, 28 July 2019

Nifty Spot Outlook for 29th Jul

NIFTY


In the previous session Nifty spot opened at 11247.45,  made a low of 11210.05, made a high of 11307.60  before closing at 11284.30


Had mentioned that long trade will get triggered for the day on sustaining above 11280 and short trade will get triggered for the day on sustaining below 11225. Nifty initially triggered our short trade and completed 1 target and took our TSL. Nifty then reversed and triggered our long trade and nearly completed 2 targets.  

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11355 and then enter for a initial target of 11430 - 11450 and look to hold further only on sustaining or getting a close above 11450 for the next targets of 11515 - 11585. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11215 and then enter for a initial target of 11140 - 11120 and look to hold further only on sustaining or getting a close below 11120 for the next targets of 11055 - 10985. 





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 shorts and nearly completed all our  targets with a low of 11210.05 .


Now on the downside Nifty has immediate support near 11155 - 11105 and it needs to hold these levels on closing basis on any further correction in the coming week for a bounce .




Now in the coming session Nifty needs to break and sustain above 11310 to test 11340 - 11345 initially and sustaining above it we can see a further upmove till 11370 - 11395. Similarly breaking and sustaining below 11255 we can see a test of 11230 - 11220 initially and breaking and sustaining below it we can see a further correction till 11195 - 11170.


Nifty Spot Levels for the day are

Long above 11310 for 11325 - 11345 - 11395 , SL 11290

Short below 11255 for 11240 - 11220 - 11170 , SL 11275


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

No comments:

Post a Comment