Nifty Spot Outlook for 24th Aug

NIFTY

Nifty spot opened at 9803.05 and made a low of 9786.75 , it made a high of 9857.90, before closing at 9852.50

Had mentioned that long positions for the day can be taken above 9795 and short positions can be taken below 9740 . Nifty triggered our long trade and completed 2 targets giving 40+ points . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9740 to test 9710 - 9700 initially and sustaining below it we can see a test of 9675 - 9650. Breaking and sustaining above 9795 we can see a bounce till 9825 - 9835 initially and breaking and sustaining above it we can see a test of 9855 - 9885 " , and we saw Nifty make a high of 9857.90  just testing our next resistance zone and also closed above 9850 . Now in the coming session Nifty needs to break and sustain below 9825 to test  9795 - 9785 initially and sustaining below it we can see a test of 9755 - 9725  . Breaking and sustaining above 9885 we see a bounce till 9915 - 9925 initially and breaking and sustaining above it we can see a test of  9950 - 9980 . 

Nifty Spot Levels for the day are

Long above 9885  for 9905 - 9925 - 9980 , SL 9845

Short below 9825 for 9805 - 9785 - 9725 , SL 9865

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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.