Wednesday, 26 July 2017

Nifty Spot Outlook for 27th Jul

NIFTY


Nifty spot opened at 9983.65 , made a new life time high of 10025.95 , made a low at 9965.95 , before closing at 10020.65 . Today Nifty gave its first record close above the much awaited 10000 level . 

Had mentioned that long positions for the day can be taken above 9984 and short positions for the day can be taken below 9945 . Nifty triggered our long trade for the day and completed 2 targets .  In the previous session Nifty had also triggered our weekly long trade and today missed our 4th target by 5 points . 

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 tested our initial resistance zone of 10015 - 10030 with a high of 10025.95 . Nifty now needs to break and sustain / close above the zone of 10015 - 10030 to test higher levels till 10125 - 10175 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 10040 for 10050 - 10065 - 10100 , SL 10015

Short below 10000 for 9990 - 9978 - 9943 , SL 10025

The expiry range expected tomorrow is 

Upper End - 10079

Lower End - 9963

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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.