Tuesday, 15 August 2017

Nifty Spot Outlook for 16th August

NIFTY


Nifty spot opened at 9755.75 and made a low of 9752.10 , it made a high of 9818.30, before closing at 9794.15

Had mentioned that long positions for the day can be taken above 9731 and short positions can be taken below 9691 . Nifty triggered our long trade for the day and opened above our 2nd target for the day and completed all the targets . Nifty also triggered our weeky long trade and completed our initial 3 long targets . Further upmove as per weekly levels will come on breaking and sustaining above 9835 . 


Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9690 to test 9670 - 9655 initially and sustaining below it we can see a test of 9600 - 9585. Breaking and sustaining above 9730 we can see a bounce till 9750 - 9765 initially and breaking and sustaining above it we can see a test of 9820 - 9835 " , and today we saw Nifty make a high of 9818.30 within our next resistance range of 9820 - 9835 and close above 9750 - 9765 range . Now in the coming session Nifty needs to break and sustain below 9770 to test  9745 - 9740 initially and sustaining below it we can see a test of 9715 - 9695  . Breaking and sustaining above 9820 we see a bounce till 9845 - 9850 initially and breaking and sustaining above it we can see a test of  9870 - 9895 . 


Nifty Spot Levels for the day are

Long above 9820  for 9835 - 9850 - 9895 , SL 9785

Short below 9770 for 9755 - 9740 - 9695 , SL 9800

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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.