Nifty Spot Outlook for 01st Nov

NIFTY

In the previous session Nifty spot opened at 11890.45 , made a high of 11945.00 , made a low of 11855.10,  before closing at 11877.45

Had mentioned that long trade will get triggered for the day on sustaining above 11870 and short trade will get triggered for the day on sustaining below 11815. Nifty triggered our long trade and nearly completed all our day targets giving 60+ points.

For this week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11640 and then enter for a initial target of 11700 - 11715 and look to hold further only on sustaining or getting a close above 11715 for the next targets of 11770 - 11825. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11525 and then enter for a initial target of 11465 - 11450 and look to hold further only on sustaining or getting a close below 11450 for the next targets of 11400 - 11345. 

Nifty had triggered our weekly long trade and has completed all our long targets and exceeded it  with a high of 11945 giving 300 points from the weekly long trade.

For this month :

For the month of November , longs will get confirmed in Nifty with a consecutive close above 12010 for a initial target of 12145 - 12180 and sustaining / closing above 12180 we can see a further move till 12300 - 12430 .  Similarly shorts will get confirmed with a consecutive close below 11745 for  a initial target of 11610 - 11575 and sustaining / closing below 11575 we can see a further move till 11455 - 11325 .

As mentioned in the previous post "Now on the upside Nifty has immediate resistance near 11840 - 11850 in the coming sessions and on sustaining or getting a strong close above 11850 we can see a further upmove till 11900 - 11955." , and today we saw Nifty make a high of 11945 and take some resistance.

Now on the upside Nifty has resistance near 11960 - 12010 in the coming sessions and on sustaining or getting a consecutive close above 12010 we see a further upmove towards 12145 - 12180.

On the downside Nifty has immediate support near 11745 - 11795 in the coming sessions and on sustaining or closing consecutively below 11745 we can see a further down move towards 11575 - 11610 levels .

As long as Nifty is able to hold / close above 11745 we can expect the upmove to resume.

Now in the coming session Nifty needs to break and sustain above 11900 to test 11925 - 11935 initially and sustaining above it we can see a further upmove till 11955 - 11980. Similarly breaking and sustaining below 11855 we can see a test of 11830 - 11820 initially and breaking and sustaining below it we can see a further correction till 11800 - 11775.

Nifty Spot Levels for the day are

Long above 11900 for 11915 - 11935 - 11980 , SL 11885

Short below 11855 for 11840 - 11820 - 11775 , SL 11870

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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.