Monday, 2 October 2017

Nifty Spot Outlook for 03rd Oct

NIFTY


Nifty spot opened at 9814.30 and made a high of 9854 , it made a low of 9775.35, before closing at 9788.60.

Had mentioned that long positions for the day can be taken above 9795 and short positions can be taken below 9740 . Nifty initially triggered our daily long trade and completed 2 targets. 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 9854 before finally closing within our of 9770 - 9830 .

Had mentioned in the previous post " 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 . " , and we saw Nifty make a high of 9854 near our next resistance zone of 9855 - 9885.  Now in the coming session Nifty needs to break and sustain below 9765 to test  9740 - 9730 initially and sustaining below it we can see a test of 9710 - 9685  . Breaking and sustaining above 9815 we can see a bounce till 9840 - 9845 initially and breaking and sustaining above it we can see a test of  9870 - 9895


Nifty Spot Levels for the day are

Long above 9815 for 9830 - 9845 - 9895 , SL 9780

Short below 9765 for 9750 - 9730 - 9685 , SL 9795

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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.