Sunday, 8 October 2017

Nifty Spot Outlook for 09th Oct

NIFTY


Nifty spot opened at 9908.15 and made a low of 9906.60 , it made a high of 9989.35, before closing at 9979.70 .

Had mentioned that long positions for the day can be taken above 9920 and short positions can be taken below 9860 . Nifty triggered our long trade and completed 2 targets .  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 9989.35 just below our next resistance range . Though now Nifty has confirmed long positions Bank Nifty is yet to trigger longs  . 

Had mentioned in the previous post " 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 . " , and we saw Nifty make a high of 9989.35 today  . Now in the coming session Nifty needs to break and sustain below 9950 to test  9920 - 9915 initially and sustaining below it we can see a test of 9890 - 9865  . Breaking and sustaining above 10010 we can see a bounce till 10035 - 10045 initially and breaking and sustaining above it we can see a test of  10070 - 10095.


Nifty Spot Levels for the day are

Long above 10010 for 10025 - 10045 - 10095 , SL 9970

Short below 9950 for 9935 - 9915 - 9865 , SL 9990

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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.