Thursday, 28 December 2017

Nifty Spot Outlook for 29th Dec

NIFTY


Nifty spot opened at 10498.20 , made a high of 10534.55 , it made a low of 10460.45 ,  before closing at 10477.90

Had mentioned that long positions for the day can be taken above 10510 and short positions can be taken below 10475 .  Nifty initially triggered our long trade and completed 2 targets and then took our TSL . It then triggered our short trade too and completed just 1 target . Nifty has been taking resistance near our weekly long confirmation level of 10550 in the past 2 sessions and needs to sustain above it for fresh longs to be added and for a move towards 10650 .  

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10475 to test  10460 - 10455 initially and sustaining below it we can see a further correction till 10440 - 10425 . Similarly breaking and sustaining above 10510 we can see a test of 10525 - 10530 initially and breaking / sustaining above it we can see a further move till 10540 - 10560  . " , and today Nifty made a high of 10534.55 just above our initial resistance zone and reversed to make a low of 10460.45 at our initial support zone . 


Now in the coming session Nifty needs to break and sustain below 10460 to test 10445 - 10440 initially and sustaining below it we can see a further correction till 10425 - 10410. Similarly breaking and sustaining above 10495 we can see a test of 10510 - 10515 initially and breaking / sustaining above it we can see a further move till 10530 - 10545


Nifty Spot Levels for the day are

Long above 10495 for 10505 - 10515 - 10545 , SL 10470

Short below 10460 for 10450 - 10440 - 10410 , SL 10485

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.