Sunday, 19 November 2017

Nifty Spot Outlook for 20th Nov

NIFTY


Nifty spot opened at 10324.55 and made a high of 10343.60 , it made a low of 10268.05,  before closing at 10283.60 . 

Had mentioned that long positions for the day can be taken above 10240 and short positions can be taken below 10190.  Nifty opened above our last target for the day and did not a chance to enter the long trade . 

Had mentioned in the previous post " 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 see a further move till 10285 - 10310 " , and today Nifty made a high of 10343.60 after opening above our next resistance zone on the back of India's credit rating upgrade  by Moody's .

Now in the coming session Nifty needs to break and sustain below 10260 to test 10230 - 10225 initially and sustaining below it we can see a further correction till 10200 - 10175. Similarly breaking and sustaining above 10310 we can see a test of 10335 - 10340 initially and breaking / sustaining above it we can a further move till 10365 - 10390. 


Nifty Spot Levels for the day are

Long above 10310 for 10325 - 10340 - 10390 , SL 10275

Short below 10260 for 10245 - 10225 - 10175 , SL 10290

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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.