Monday, 31 July 2017

Nifty Spot Outlook for 01st Aug

NIFTY


Nifty spot opened at 10034.70 , made a low of 10016.95 , made a high at 10085.90 , before closing at 10077.10 .


Had mentioned in the previous post "  Nifty now needs to break and sustain / close above 10125 levels  to test higher levels till 10175 - 10225 and being unable to do so we might see some profit booking pull it back towards 9920 levels initially " and on Friday we saw Nifty make a low of 9944.50 after making a high of 10114.85 in the previous session and not being able to sustain above 10125. Now in the coming sessions Nifty needs to break and sustain above 10065 to test 10115 - 10130 initially and above it we can see a test of 10170 - 10220. Breaking and sustaining below 9965 we can see a test of 9915 - 9900 initially and below it we can see a test of 9855 - 9810 . Those who are holding longs should keep a stoploss  of 9985 . Those who are looking to go short on further upmove should keep a strict cbsl of 10150 spot .



Nifty Spot Levels for the day are

Long above 10090 for 10099 - 10108 - 10133 , SL 10073

Short below 10064 for 10056 - 10046 - 10021 , SL 10081


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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.