Nifty Spot Outlook for 03rd Nov

NIFTY

Nifty spot opened at 10440.50 and made a high of 10453 , it made a low of 10412.55 , before closing at 10423.80 . 

Had mentioned that long positions for the day can be taken above 10460 and short positions can be taken below 10420.  Nifty triggered our short trade but could not complete any target and then traded mostly between our long and short trigger range of the day. Nifty had also triggered our weekly long trade and completed 4 weekly long targets this week . 

Had mentioned in the previous post " 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 breaking and sustaining above it we can see a further move till 10505 - 10525 " , and today Nifty made a low of 10412.55 and mostly traded in a narrow range between our long and short trigger levels consolidating before the next move.

Now in the coming session Nifty needs to break and sustain below 10405 to test 10390 - 10385 initially and sustaining below it we can see a further correction till 10370 - 10350. Similarly breaking and sustaining above 10440 we can see a test of 10460 - 10465 initially and sustaining above it we can a further move till 10480- 10495 . 

Nifty Spot Levels for the day are

Long above 10440 for 10450 - 10465 - 10495 , SL 10420

Short below 10405 for 10395 - 10385 - 10350 , SL 10430

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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.