Wednesday, 29 November 2017

Nifty Spot Outlook for 30th Nov

NIFTY


Nifty spot opened at 10376.65 and made a high of 10392.95 , it made a low of 10345.90,  before closing at 10361.30. 

Had mentioned that long positions for the day can be taken above 10385 and short positions can be taken below 10355 .  Nifty initially triggered our long trade and did not complete any target . It then triggered our short trade and completed just 1 target . Nifty has so far been holding on to the cbsl for longs of 10340 this week . Nifty is currently stuck in a range of 10340 - 10440 and breaking and sustaining / closing above or below this range is required for the next move and we should see this range broken in the coming sessions .   

Had mentioned in the previous post " 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 see a further move till 10415 - 10430 " , and today Nifty made a low of 10345.90  just near our initial support levels for the day . 

Now in the coming session Nifty needs to break and sustain below 10351 to test 10340 - 10338 initially and sustaining below it we can see a further correction till 10328 - 10318. Similarly breaking and sustaining above 10372 we can see a test of 10382 - 10385 initially and breaking / sustaining above it we can a further move till 10395 - 10405 . 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 10372 for 10378 - 10385 - 10405 , SL 10358

Short below 10351 for 10345 - 10338 - 10318 , SL 10375

Nifty expiry levels 

Upper End - 10432

Lower End - 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.