Thursday, 16 November 2017

Nifty Spot Outlook for 16th Nov

NIFTY


Nifty spot opened at 10171.95 and made a high of 10175.45 , it made a low of 10094, before closing at 10118.05 . 

Had mentioned that long positions for the day can be taken above 10205 and short positions can be taken below 10170.  Nifty triggered our short trade and completed all out short targets for the day . Nifty had also triggered our weekly short trade and completed all  short targets for the week giving 190 points . Had mentioned in the previous post " We can see a move till 10120 - 10100 once Nifty breaks and sustains below 10210 - 10195 zone in the coming sessions ." , and today we saw a low of 10094 .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10170 to test  10155 - 10150 initially and sustaining below it we can see a further correction till 10135 - 10115 . Similarly breaking and sustaining above 10205 we can see a test of 10220 - 10225 initially and breaking / sustaining above it we can see a further move till 10240 - 10255 " , and today Nifty made a low of 10094 below our next support zone and closed within it . 

Now in the coming session Nifty needs to break and sustain below 10100 to test 10085 - 10080 initially and sustaining below it we can see a further correction till 10065 - 10045. Similarly breaking and sustaining above 10135 we can see a test of 10155 - 10160 initially and breaking / sustaining above it we can a further move till 10175 - 10190. 


Nifty Spot Levels for the day are

Long above 10135 for 10145 - 10160 - 10190 , SL 10110

Short below 10100 for 10090 - 10080 - 10045 , SL 10125

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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.