Tuesday, 3 October 2017

Nifty Spot Outlook for 04th Oct

NIFTY


Nifty spot opened at 9893.30 and made a high of 9895.40 , it made a low of 9831.05, before closing at 9859.50.

Had mentioned that long positions for the day can be taken above 9815 and short positions can be taken below 9765 . Nifty initially triggered our daily long trade by opening near our last target for the day but post that gave a dip till our 1st target to enter , which was also our weekly long trigger level . Nifty has closed above our weekly long confirmation level today and we might see a test of 9925 next . Nifty today completed our initial 3 weekly long targets at 9895 and we can see a test of 9925 next but now for a further upmove towards 10000 - 10065 Nifty will need to sustain above 9940 in the coming sessions .  

Had mentioned in the previous post " 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 . " , and we saw Nifty make a high of 9895.40 which was our last long target . Now in the coming session Nifty needs to break and sustain below 9830 to test  9800 - 9795 initially and sustaining below it we can see a test of 9770 - 9740  . Breaking and sustaining above 9890 we can see a bounce till 9920 - 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 9890 for 9905 - 9925 - 9980 , SL 9850

Short below 9830 for 9815 - 9795 - 9740 , SL 9870

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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.