Tuesday, 25 July 2017

Nifty Spot Outlook for 26th Jul

NIFTY


Nifty spot opened at 10010.55 , made a new life time high of 10011.30 , made a low at 9949.10 , before closing at 9964.55 . Today Nifty finally broke above the magical figure of 10000 at opening though it failed to close above it .

Had mentioned that long positions for the day can be taken above 9985 and short positions for the day can be taken below 9947 . Nifty opened near our 2nd long target for the day and did not give any entry to longs and then reversed . In the previous session Nifty also triggered our weekly long trade today and with todays gap up as completed our initial 3 weekly long targets . 

Had mentioned in the previous post " Nifty now in the coming sessions needs to break and sustain above 9965 to test 10015 - 10030 levels initially and above it we can see a test of 10075 -10125 . Similarly now breaking and sustaining / closing 9865 we can see a test of 9815 - 9800 levels initially and below it we can see  a test of 9755 - 9705 levels . " , and today Nifty nearly tested our initial resistance zone of 10015 - 10030 with a high of 10011.30. Nifty now needs to break and sustain / close above the zone of 10015 - 10030 to test higher levels and being unable to do so we might see some profit booking pull it back towards 9865 levels initially .


Nifty Spot Levels for the day are

Long above 9984 for 9996 - 10009 - 10045 , SL 9959

Short below 9945 for 9933 - 9920 - 9883 , SL 9970

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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.