Thursday, 27 July 2017

Nifty Spot Outlook for 28th Jul

NIFTY


Nifty spot opened at 10063.25 , made a new life time high of 10114.85 , made a low at 10005.50 , before closing at 10020.55 . 

Had mentioned that long positions for the day can be taken above 10040 and short positions for the day can be taken below 10000 . Nifty triggered our long trade for the day and completed all our targets .  In the previous sessions Nifty had also triggered our weekly long trade and today missed our last target by 10 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 next resistance zone of 10075 - 10125 with a high of 10114.85 . 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 .


Nifty Spot Levels for the day are

Long above 10039 for 10050 - 10063 - 10100 , SL 10015

Short below 10002 for 9990 - 9978 - 9943 , SL 10026


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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.