Wednesday, 2 October 2019

Nifty Spot Outlook for 03rd Oct

NIFTY


In the previous session Nifty spot opened at 11515.40 , made a high of 11554.20 , made a low of 11247.90,  before closing at 11359.90


Had mentioned that long trade will get triggered for the day on sustaining above 11565 and short trade will get triggered for the day on sustaining below 11385. Nifty triggered our short trade and completed 2 targets giving 125+ points. 


For this 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.





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 .

As mentioned in the previous post " 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 ." , and we saw Nifty make a low of 11247.90 and bounce back to close at 11360. This support needs to be held for bounce and closing below it we can see a correction till 11000 levels.


Now in the coming session Nifty needs to break and sustain above 11450 test 11545 - 11570 initially and sustaining above it we can see a further upmove till 11650 - 11740. Similarly breaking and sustaining below 11270 we can see a test of 11175 - 11150 initially and breaking and sustaining below it we can see a further correction till 11070 - 10980.


Nifty Spot Levels for the day are

Long above 11450 for 11505 - 11570 - 11740 , SL 11385

Short below 11270 for 11215 - 11150 - 10980 , SL 11335

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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