Sunday, 31 December 2017

Nifty Spot Outlook for 01st Jan 2018

Wishing everyone a very Happy and a Prosperous New Year 2018


NIFTY


Nifty spot opened at 10492.35 , made a low of 10488.65 , it made a high of 10538.70 ,  before closing at 10530.70

Had mentioned that long positions for the day can be taken above 10495 and short positions can be taken below 10460 .  Nifty initially triggered our long trade and nearly completed all 3 long targets for the day  . Nifty took resistance near our weekly long confirmation level of 10550 in the past week and did not sustain above it for fresh longs to be added and for a move towards 10650 .  

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10460 to test  10445 - 10440 initially and sustaining below it we can see a further correction till 10425 - 10410 . Similarly breaking and sustaining above 10495 we can see a test of 10510 - 10515 initially and breaking / sustaining above it we can see a further move till 10530 - 10545  . " , and today Nifty made a high of 10538.70 within our next resistance zone for the day and also closed within it . 


Now in the coming session Nifty needs to break and sustain below 10515 to test 10500 - 10495 initially and sustaining below it we can see a further correction till 10485 - 10465. Similarly breaking and sustaining above 10545 we can see a test of 10560 - 10565 initially and breaking / sustaining above it we can see a further move till 10580 - 10595


Nifty Spot Levels for the day are

Long above 10545 for 10555 - 10565 - 10595 , SL 10525

Short below 10515 for 10505 - 10495 - 10465 , SL 10535

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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.