Wednesday, 2 August 2017

Nifty Spot Outlook for 03rd Aug

NIFTY


Nifty spot opened at 10136.30 , made a new life time high of 10137.85 , made a low at 10054.20 , before closing at 10081.50 

Had mentioned that long positions for the day can be taken above 10127 and short positions can be taken below 10103 . Nifty opened above our 1st long target for the day and reversed to trigger our short trade for the day and completed all our short targets . 


Had mentioned in the previous post "   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 short " , and today we saw Nifty reverse from just near 10150 and retest 10065 above which we had gone long for 10115 - 10130 initially  . Breaking and sustaining below 9965 we can see a test of 9915 - 9900 initially and below it we can see a test if 9855 - 9810 . As of now Nifty has held on to the cbsl for longs at 10005 and holding the same we can see a retest of 10115 - 10130 initially .Nifty is currently in a range of 10005 - 10150 and we need to see this range broken and sustained for a bigger move.


Nifty Spot Levels for the day are

Long above 10094 for 10101 - 10110 - 10135 , SL 10178

Short below 10069 for 10062 - 10053 - 10030 , SL 10085


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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.