Wednesday, 4 October 2017

Nifty Spot Outlook for 05th Oct

NIFTY


Nifty spot opened at 9884.35 and made a low of 9850.65 , it made a high of 9938.30, before closing at 9914.90.

Had mentioned that long positions for the day can be taken above 9890 and short positions can be taken below 9830 . Nifty triggered our daily long trade and completed 2 targets for the day .  Nifty had closed above our weekly long confirmation level in the previous session  and were expecting to see a test of 9925 and today we saw the same . As mentioned in the previous post " 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 " , and today we saw Nifty make a high of 9938.30 just below 9940  . Bank Nifty has not been participating this week and unless it begins to move up , it will be difficult for Nifty to sustain above 9940 for the next move .  

Had mentioned in the previous post " 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 . " , and we saw Nifty make a high of 9938.20 today . Now in the coming session Nifty needs to break and sustain below 9885 to test  9855 - 9845 initially and sustaining below it we can see a test of 9815 - 9785  . Breaking and sustaining above 9945 we can see a bounce till 9975 - 9985 initially and breaking and sustaining above it we can see a test of  10010 - 10040.


Nifty Spot Levels for the day are

Long above 9945 for 9965 - 9985 - 10040 , SL 9905

Short below 9885 for 9865 - 9845 - 9785 , SL 9925

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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.