Wednesday, 30 October 2019

Nifty Spot Outook for 31st Oct

NIFTY


In the previous session Nifty spot opened at 11883.90 , made a high of 11883.95 , made a low of 11784.45,  before closing at 11844.10

Had mentioned that long trade will get triggered for the day on sustaining above 11815 and short trade will get triggered for the day on sustaining below 11760. Nifty triggered our long trade and nearly completed our day targets giving 50+ points.


For the coming 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 with a high of 11883.95 giving 200+ points from the weekly long trade.




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 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.


On the downside Nifty has immediate support near 11675 - 11700 in the coming sessions and on sustaining below 11675 we can see a further down move towards 11620 - 11640 levels .



As long as Nifty is able to hold / close above 11525 in case of a strong correction we can expect the upmove to resume.





Now in the coming session Nifty needs to break and sustain above 11870 to test 11900 - 11905 initially and sustaining above it we can see a further upmove till 11930 - 11955. Similarly breaking and sustaining below 11815 we can see a test of 11790 - 11785 initially and breaking and sustaining below it we can see a further correction till 11760 - 11735.


Nifty Spot Levels for the day are

Long above 11870 for 11885 - 11905 - 11955 , SL 11850

Short below 11815 for 11800 - 11785 - 11735 , SL 11835

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/simplytradestocks


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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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