Thursday, 28 September 2017

Nifty Spot Outlook for 29th Sep

NIFTY


Nifty spot opened at 9736.40 and made a low of 9687.55 , it made a high of 9789.20, before closing at 9768.95.

Had mentioned that long positions for the day can be taken above 9765 and short positions can be taken below 9710 . Nifty initially triggered our daily short trade and completed just 1 target . It then took our trailing stoploss and triggered our long trade and completed just 1 target again .  Nifty had also triggered our weekly shorts on Monday below 9925 and today completed our last weekly short target at 9690 with a low of 9687.55 before reversing , giving 225 points from the weekly short trade . As mentioned in the previous post "Further correction can be expected on sustaining / closing below 9815 as per weekly levels " and we were expecting a test of 9690 below 9815 and we achieved it today . Also as mentioned in the previous post " Now for further correction Nifty needs to break and sustain / close below 9690 for a test of 9615 - 9575 . Holding 9690 we can see a test of 9770 - 9830 initially." , and we saw Nifty reverse from near 9690 and make a high of 9789.20 , testing our range of 9770 - 9830 .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9710 to test 9685 - 9675 initially and sustaining below it we can see a test of 9650 - 9625 . Breaking and sustaining above 9765 we can see a bounce till 9790 - 9800 initially and breaking and sustaining above it we can see a test of 9820 9845 . " , and we saw Nifty make a low of 9687.55 and holding 9685 - 9675 reverse and make a high of 9789.20 just a point short of 9790 - 9800 zone .  Now in the coming session Nifty needs to break and sustain below 9740 to test  9715 - 9705 initially and sustaining below it we can see a test of 9680 - 9655  . 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


Nifty Spot Levels for the day are

Long above 9795 for 9815 - 9835 - 9885 , SL 9760

Short below 9740 for 9725 - 9705 - 9655 , SL 9780

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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.