Monday, 13 November 2017

Nifty Spot Outlook for 14th Nov

NIFTY


Nifty spot opened at 10322 and made a high of 10334.15 , it made a low of 10216.25 , before closing at 10224.95 . 

Had mentioned that long positions for the day can be taken above 10355 and short positions can be taken below 10300.  Nifty triggered our short trade and completed all our targets for the day giving 65 points  . Nifty also triggered our weekly short trade and completed 3 short targets for the week . Today Nifty took the cbsl of longs after not being able to break above 10350 and as mentioned previously now we can see the downmove extend further . We can see a move till 10120 - 10100 once Nifty breaks and sustains below 10210 - 10195 zone in the coming sessions . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10300 to test  10280 - 10275 initially and sustaining below it we can see a further correction till 10255 - 10235 . Similarly breaking and sustaining above 10345 we can see a test of 10365 - 10370 initially and breaking and sustaining above it we can see a further move till 10390 - 10410 " , and today Nifty made a low of 10254.10 just below our initial support zone and reversed and made a high of 10216.25 well below our next support level for the day and also closed below it . 

Now in the coming session Nifty needs to break and sustain below 10200 to test 10180 - 10170 initially and sustaining below it we can see a further correction till 10150 - 10130. Similarly breaking and sustaining above 10250 we can see a test of 10270 - 10280 initially and sustaining above it we can a further move till 10300 - 10320 . 


Nifty Spot Levels for the day are

Long above 10250 for 10260 - 10280 - 10320 , SL 10215

Short below 10200 for 10190 - 10170 - 10130 , SL 10235

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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.