Tuesday 8 September 2020

Nifty Spot Outlook for 09th Sep

 In the previous session : 


Nifty went down by 82 points then went up by 65 points before closing lower by 38 points on Tuesday as compared to the previous day's close.








Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 08th  Sep :

Nifty initially triggered our long trade and did just 1 target and took our TSL . Post that reversed to trigger our short trade but failed to complete any targets .
Nifty indicated indecisiveness today and we can expect a trending day resume.

For 09th Sep :
 


Sustaining above 11360 enter for 11390 - 11420 - 11500 , SL 11330


Sustaining below 11270 enter for 11245 - 11215 - 11135 , SL 11300



For this week Nifty has immediate support at 11215 and sustaining below it we can see a further correction towards 11050 levels . 

For this week Nifty has immediate resistance at 11460 and sustaining above it we can see a further recovery towards 11610 levels.

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "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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