Sunday, 29 September 2019

Nifty Spot Outlook for 30th Sep

NIFTY


In the previous session Nifty spot opened at 11556.35 , made a high of 11593.60 , made a low of 11499.75,  before closing at 11512.40


Had mentioned that long trade will get triggered for the day on sustaining above 11665 and short trade will get triggered for the day on sustaining below 11475. Nifty traded between our long and short trigger range indicating indecisiveness. 


For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11760 and then enter for a initial target of 12020 - 12085 and look to hold further only on sustaining or getting a close above 12085 for the next targets of 12310 - 12560. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11265 and then enter for a initial target of 11005 - 10940 and look to hold further only on sustaining or getting a close below 10940 for the next targets of 10715 - 10470.



Nifty had triggered our weekly long trade and completed 200 points nearly testing our initial targets. Post that Nifty failed to sustain above 11720 for a further upmove and we saw it decline till 11416 this week so far. In the coming session Nifty needs to hold above 11490 for a move towards the high of this month. 




For the month of October , longs will get confirmed in Nifty with a consecutive close above 12085 for a initial target of 12630 - 12770 and sustaining / closing above 12770 we can see a further move till 13240 - 13755 .  Similarly shorts will get confirmed with a consecutive close below 11055 for  a initial target of 10510 - 10375 and sustaining / closing below 10375 we can see a further move till 9905 - 9390 .



Now on the upside Nifty has immediate resistance near 11665 - 11760 in the coming sessions and only on getting a strong close above 11760 we can see a further upmove .

On the downside Nifty has immediate support near 11360 - 11265 in the coming sessions and on getting a strong close below 11265 we can see a further correction .


Now in the coming session Nifty needs to break and sustain above 11605 test 11705 - 11730 initially and sustaining above it we can see a further upmove till 11815 - 11910. Similarly breaking and sustaining below 11420 we can see a test of 11320 - 11295 initially and breaking and sustaining below it we can see a further correction till 11210 - 11120.


Nifty Spot Levels for the day are

Long above 11605 for 11665 - 11730 - 11910 , SL 11540

Short below 11420 for 11360 - 11295 - 11120 , SL 11485


Telegram Channel will be active from October for live trades under the name of Simply Trade . Those who wish to join can click on this link and open it with telegram https://t.me/joinchat/AAAAAFirR428Znf3BfpfmA  


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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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