Thursday, 9 November 2017

Nifty Spot Outlook for 10th Nov

NIFTY


Nifty spot opened at 10358.65 and made a high of 10368.45 , it made a low of 10266.95 , before closing at 10308.95 . 

Had mentioned that long positions for the day can be taken above 10325 and short positions can be taken below 10280.  Nifty initially triggered our long trade and opened above our 2nd target for the day without giving a chance to enter . It then triggered our short trade and completed just 1 target for the day. Nifty had also triggered our weekly short trade in the previous session and today nearly completed all our weekly targets giving around 150 points from the weekly short trade  . Had mentioned in the previous post that " Nifty has good support near 10315 - 10305 levels and for a further correction it would need to sustain / close below it and on sustaining below it we can see a test of 10260 - 10240 . Those who are looking to go long on further correction should keep a strict cbsl of 10240 spot ." , and today Nifty made a low of 10266.95 . Those who entered long positions today should keep a cbsl of 10240 .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10280 to test  10260 - 10255 initially and sustaining below it we can see a further correction till 10235 - 10215  . Similarly breaking and sustaining above 10325 we can see a test of 10345 - 10350 initially and breaking and sustaining above it we can see a further move till 10370 - 10390 " , and today Nifty made a high of 10368.45 just below our next resistance zone and reversed and made a low of 10266.95 just above our initial support zone .

Now in the coming session Nifty needs to break and sustain below 10285 to test 10265 - 10260 initially and sustaining below it we can see a further correction till 10240 - 10220. Similarly breaking and sustaining above 10330 we can see a test of 10350 - 10355 initially and sustaining above it we can a further move till 10375 - 10395 . 


Nifty Spot Levels for the day are

Long above 10330 for 10340 - 10355 - 10395 , SL 10300

Short below 10285 for 10275 - 10260 - 10220 , SL 10315

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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.