Thursday, 7 December 2017

Nifty Spot Outlook for 08th Dec

NIFTY


Nifty spot opened at 10063.45 and made a low of 10061.90 , it made a high of 10182.65,  before closing at 10166.70 

Had mentioned that long positions for the day can be taken above 10065 and short positions can be taken below 10025 .  Nifty triggered our intraday long trade and completed all targets giving 65 points . Had mentioned in the previous post that " 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  " , and today Nifty has taken the trailing cbsl for shorts  .  

Had mentioned in the previous post " 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 see a further move till 10110 - 10130  . " , and today Nifty made a high of 10182.65 well above our next support zone and closed above it  . 

Now in the coming session Nifty needs to break and sustain below 10140 to test 10110 - 10105 initially and sustaining below it we can see a further correction till 10080 - 10055. Similarly breaking and sustaining above 10195 we can see a test of 10225 - 10230 initially and breaking / sustaining above it we can a further move till 10255 - 10280 . 


Nifty Spot Levels for the day are

Long above 10195 for 10210 - 10230 - 10280 , SL 10158

Short below 10140 for 10125 - 10105 - 10055 , SL 10175

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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.