Wednesday, 22 November 2017

Nifty Spot Outlook for 23rd Nov

NIFTY


Nifty spot opened at 10350.80 and made a high of 10368.70 , it made a low of 10309.55 ,  before closing at 10342.30 . 

Had mentioned that long positions for the day can be taken above 10350 and short positions can be taken below 10305 .  Nifty triggered our long trade for the day and completed just 1 target . Nifty has yet to confirm our weekly long trade with a close above 10350 . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10305 to test  10280 - 10275 initially and sustaining below it we can see a further correction till 10255 - 10230 . Similarly breaking and sustaining above 10350 we can see a test of 10375 - 10380 initially and breaking / sustaining above it we can see a further move till 10400 - 10425 " , and today Nifty made a high of 10368.70  below our initial resistance zone for the day . 

Now in the coming session Nifty needs to break and sustain below 10320 to test 10295 - 10290 initially and sustaining below it we can see a further correction till 10270 - 10245. Similarly breaking and sustaining above 10365 we can see a test of 10390 - 10395 initially and breaking / sustaining above it we can a further move till 10415 - 10440.  


Nifty Spot Levels for the day are

Long above 10365 for 10380 - 10395 - 10440 , SL 10335

Short below 10320 for 10305 - 10290 - 10245 , SL 10350

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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.