Thursday, 2 November 2017

Nifty Spot Outlook for 02nd Nov

NIFTY


Nifty spot opened at 10390.35 and made a low of 10383.05 , it made a high of 10451.65 , before closing at 10440.50 . 

Had mentioned that long positions for the day can be taken above 10355 and short positions can be taken below 10315.  Nifty opened above our 2nd long target for the day and also triggered our weekly long trade and completed 4 weekly long targets too after India made it to the top 100 countries in the ease of doing business ranking which was released .  

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10315 to test  10300 - 10295 initially and sustaining below it we can see a further correction till 10280 - 10260  . Similarly breaking and sustaining above 10355 we can see a test of 10370 - 10375 initially and breaking and sustaining above it we can see a further move till 10390 - 10410" , and today we saw Nifty make a new life high of 10451.65 and also close above 10400 for the first time. 

Now in the coming session Nifty needs to break and sustain below 10420 to test 10400 - 10395 initially and sustaining below it we can see a further correction till 10375 - 10355. Similarly breaking and sustaining above 10460 we can see a test of 10485 - 10490 initially and sustaining above it we can a further move till 10505- 10525 . 


Nifty Spot Levels for the day are

Long above 10460 for 10475 - 10490 - 10525 , SL 10435

Short below 10420 for 10410 - 10395 - 10355 , SL 10450

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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.