Thursday, 5 October 2017

Nifty Spot Outlook for 06th Oct

NIFTY


Nifty spot opened at 9927 and made a high of 9945.95 , it made a low of 9881.85, before closing at 9888.70 .

Had mentioned that long positions for the day can be taken above 9945 and short positions can be taken below 9885 . Nifty traded the entire session between our long and short trigger levels for the day indicating indecisivenss .  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 9945.95 but could not sustain above it as Bank Nifty has not been participating in the move this week . 

Had mentioned in the previous post " 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 . " , and we saw Nifty make a high of 9945.95 today and a low of 9881.85 and being able to sustain on either side indicating indecisiveness . Now in the coming session Nifty needs to break and sustain below 9860 to test  9825 - 9820 initially and sustaining below it we can see a test of 9790 - 9760  . Breaking and sustaining above 9920 we can see a bounce till 9950 - 9960 initially and breaking and sustaining above it we can see a test of  9985 - 10015.


Nifty Spot Levels for the day are

Long above 9920 for 9940 - 9960 - 10015 , SL 9879

Short below 9860 for 9840 - 9820 - 9760 , SL 9898

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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.