Tuesday, 12 December 2017

Nifty Spot Outlook for 13th Dec

NIFTY


Nifty spot opened at 10324.90 and made a high of 10326.10 , it made a low of 10230.20,  before closing at 10240.15 

Had mentioned that long positions for the day can be taken above 10355 and short positions can be taken below 10290 .  Nifty triggered our intraday short trade and completed 2 targets giving 40+ points . 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 made a high of 10329.20 in the previous session and today corrected by nearly 100 points taking resistance at the range of 10330 - 10350 . Nifty weekly shorts will also get confirmed on sustaining / closing below 10185 and it should also be the cbsl for any longs entered today in the correction . 

Had mentioned in the previous post " 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  . " , and today Nifty made a low of 10230.20 just above our next support zone . 

Now in the coming session Nifty needs to break and sustain below 10205 to test 10175 - 10165 initially and sustaining below it we can see a further correction till 10135 - 10100. Similarly breaking and sustaining above 10275 we can see a test of 10310 - 10315 initially and breaking / sustaining above it we can see a further move till 10345 - 10380 . 


Nifty Spot Levels for the day are

Long above 10275 for 10295 - 10315 - 10380 , SL 10230

Short below 10205 for 10185 - 10165 - 10100 , SL 10250

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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.