Tuesday, 5 December 2017

Nifty Spot Outlook for 06th Dec

NIFTY


Nifty spot opened at 10118.25 and made a low of 10069.10 , it made a high of 10147.95,  before closing at 10118.25 

Had mentioned that long positions for the day can be taken above 10150 and short positions can be taken below 10105 .  Nifty triggered our intraday short trade and completed 2 targets . Had mentioned in the previous post that " Those who are holding shorts from last week should keep a trailing cbsl of 10180 for their positions and look to book incase Nifty does not break below 10065 in the coming sessions .Those who are looking to go long should keep a strict cbsl of 10065. " , those who took a long trade intraday got a good move of 60+ points . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10105 to test  10085 - 10080 initially and sustaining below it we can see a further correction till 10060 - 10040 . Similarly breaking and sustaining above 10150 we can see a test of 10170 - 10175 initially and breaking / sustaining above it we can see a further move till 10195 - 10215. . " , and today Nifty made a low of 10069.10 just above our next support zone  . 

Now in the coming session Nifty needs to break and sustain below 10095 to test 10075 - 10070 initially and sustaining below it we can see a further correction till 10055 - 10035. Similarly breaking and sustaining above 10140 we can see a test of 10160 - 10165 initially and breaking / sustaining above it we can a further move till 10185 - 10205 . Those who are holding shorts from last week should keep a trailing cbsl of 10180 for their positions and should look to book incase Nifty does not break / close below 10065 in the coming sessions . Those who are looking to go long should keep a strict cbsl of 10065 . 


Nifty Spot Levels for the day are

Long above 10140 for 10150 - 10165 - 10205 , SL 10110

Short below 10095 for 10085 - 10070 - 10035 , SL 10125

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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.