Tuesday, 1 August 2017

Nifty Spot Outlook for 02nd Aug

NIFTY


Nifty spot opened at 10101.05 , made a low of 10065.75 , made a new life time high at 10128.60 , before closing at 10114.65.

Had mentioned that long positions for the day can be taken above 10090 and short positions can be taken below 10064 . Nifty triggered our long trade for the day and nearly completed all our long targets for the day , missing our last target by 4 points .


Had mentioned in the previous post "   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 " , and today we saw Nifty make a low of 10065.75 and take support to move up and test our initial range of 10115 - 10130 and also close near it . Now in the coming session Nifty needs to break and sustain above 10130 to test 10170 - 10220 . Those who are long should move up their cbsl to 10005 now . Those who are looking to go short on further upmove should keep a strict cbsl of 10150 spot and look to go long . 



Nifty Spot Levels for the day are

Long above 10127 for 10134 - 10142 - 10165 , SL 10111

Short below 10103 for 10095 - 10087 - 10064 , SL 10118


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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.