Monday, 11 December 2017

Nifty Spot Outlook for 12th Dec

NIFTY


Nifty spot opened at 10310.50 and made a low of 10282.05 , it made a high of 10329.20,  before closing at 10322.25 

Had mentioned that long positions for the day can be taken above 10300 and short positions can be taken below 10235 .  Nifty triggered our intraday long trade and completed just 1 target . Had mentioned in the previous post " Nifty has resistance in the coming sessions near 10330 - 10350 zone and for a further upmove we need a consecutive close above 10330 as mentioned in the weekly post too . Those who are holding longs should book once near this zone and look to hold or enter fresh longs only on a consecutive close above it . Those who are intending to go short in the coming sessions near the zone of 10330 - 10350 should keep a cbsl of 10360 ." , and Nifty today made a high of 10329.20 . Now we need Bank Nifty to break above 25535 - 25655 zone in the coming session to take Nifty also beyond 10330 - 10350 zone and sustain. 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10235 to test  10200 - 10195 initially and sustaining below it we can see a further correction till 10165 - 10135 . Similarly breaking and sustaining above 10300 we can see a test of 10330 - 10340 initially and breaking / sustaining above it we can see a further move till 10365 - 10395  . " , and today Nifty made a high of 10329.20 just below our initial resistance zone . 

Now in the coming session Nifty needs to break and sustain below 10290 to test 10255 - 10250 initially and sustaining below it we can see a further correction till 10220 - 10185. Similarly breaking and sustaining above 10355 we can see a test of 10390 - 10395 initially and breaking / sustaining above it we can see a further move till 10425 - 10460 . 


Nifty Spot Levels for the day are

Long above 10355 for 10375 - 10395 - 10460 , SL 10310

Short below 10290 for 10270 - 10250 - 10185 , SL 10335

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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.