Tuesday, 31 October 2017

Nifty Spot Outlook for 01st Nov

NIFTY


Nifty spot opened at 10364.90 and made a high of 10367.70 , it made a low of 10323.95, before closing at 10335.30 . 

Had mentioned that long positions for the day can be taken above 10380 and short positions can be taken below 10345.  Nifty triggered our short trade and completed 2  targets for the day . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10345 to test  10330 - 10325 initially and sustaining below it we can see a further correction till 10310 - 10295  . Similarly breaking and sustaining above 10380 we can see a bounce till 10400 - 10405 initially and breaking and sustaining above it we can see a further move till 10420 - 10435" , and today we saw Nifty make a low of 10323.95 near our initial support zone for the day  .  

Now in the coming session Nifty needs to break and sustain below 10315 to test 10300 - 10295 initially and sustaining below it we can see a further correction till 10280 - 10260. Similarly breaking and sustaining above 10355 we can see a test of 10370 - 10375 initially and sustaining above it we can a further move till 10390 - 10410 . 


Nifty Spot Levels for the day are

Long above 10355 for 10365 - 10375 - 10410 , SL 10330

Short below 10315 for 10305 - 10295 - 10260 , SL 10340

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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.