Wednesday, 6 December 2017

Nifty Spot Outlook for 07th Dec

NIFTY


Nifty spot opened at 10088.80 and made a high of 10104.20 , it made a low of 10033.35,  before closing at 10044.10 

Had mentioned that long positions for the day can be taken above 10140 and short positions can be taken below 10095 .  Nifty triggered our intraday short trade and completed all targets giving 60 points . 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. " , and today Nifty took the cbsl for longs .  

Had mentioned in the previous post " 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 see a further move till 10185 - 10205. . " , and today Nifty made a low of 10033.35 just below our next support zone and closed within it  . 

Now in the coming session Nifty needs to break and sustain below 10025 to test 10000 - 9995 initially and sustaining below it we can see a further correction till 9980 - 9960. Similarly breaking and sustaining above 10065 we can see a test of 10085 - 10090 initially and breaking / sustaining above it we can a further move till 10110 - 10130 . Those who are holding shorts from last week should move their trailing cbsl to 10105 now from 10180 mentioned earlier as Nifty has now given a close below 10065 . 


Nifty Spot Levels for the day are

Long above 10065 for 10080 - 10090 - 10130 , SL 10038

Short below 10025 for 10010 - 9995 - 9960 , SL 10050

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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.