Tuesday, 28 November 2017

Nifty Spot Outlook for 29th Nov

NIFTY


Nifty spot opened at 10387.90 and made a high of 10409.55 , it made a low of 10355.20,  before closing at 10370.25. 

Had mentioned that long positions for the day can be taken above 10415 and short positions can be taken below 10380 .  Nifty triggered our short trade and completed 2 targets . Had mentioned in the previous post " Nifty gave a close above 10355 and one should keep a cbsl now of 10340 for long positions taken " , and today again our cbsl for longs has been held .  

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10380 to test  10365 - 10360 initially and sustaining below it we can see a further correction till 10345 - 10330 . Similarly breaking and sustaining above 10415 we can see a test of 10435 - 10440 initially and breaking / sustaining above it we can see a further move till 10455 - 10470 " , and today Nifty made a low of 10355.20  just below our initial support levels for the day . 

Now in the coming session Nifty needs to break and sustain below 10355 to test 10345 - 10335 initially and sustaining below it we can see a further correction till 10325 - 10315. Similarly breaking and sustaining above 10385 we can see a test of 10400 - 10405 initially and breaking / sustaining above it we can a further move till 10415 - 10430 . Sustaining / closing above 10440 will confirm weekly longs too and may see a retest of the highs . Sustaining below 10340 will confirm weekly shorts and we can see a test of 10290 - 10270.


Nifty Spot Levels for the day are

Long above 10385 for 10395 - 10405 - 10430 , SL 10365

Short below 10355 for 10345 - 10335 - 10315 , SL 10375

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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.