Thursday, 16 November 2017

Nifty Spot Outlook for 17th Nov

NIFTY


Nifty spot opened at 10152.90 and made a low of 10139.20 , it made a high of 10232.25,  before closing at 10214.75 . 

Had mentioned that long positions for the day can be taken above 10135 and short positions can be taken below 10100.  Nifty triggered our long trade and completed all our long targets for the day giving 55 points . Nifty had also triggered our weekly short trade and completed all  short targets for the week giving 190 points in the previous session .

Had mentioned in the previous post " 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 see a further move till 10175 - 10190 " , and today Nifty made a high of 10232.25 above our next resistance zone and also closed above it . 

Now in the coming session Nifty needs to break and sustain below 10190 to test 10170 - 10165 initially and sustaining below it we can see a further correction till 10140 - 10120. Similarly breaking and sustaining above 10240 we can see a test of 10260 - 10270 initially and breaking / sustaining above it we can a further move till 10285 - 10310. 


Nifty Spot Levels for the day are

Long above 10240 for 10250 - 10270 - 10310 , SL 10205

Short below 10190 for 10180 - 10165 - 10120 , SL 10225

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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.