Monday, 4 December 2017

Nifty Spot Outlook for 5th Dec

NIFTY


Nifty spot opened at 10175.05 and made a high of 10179.20 , it made a low of 10095.70,  before closing at 10127.75 

Had mentioned that long positions for the day can be taken above 10145 and short positions can be taken below 10100 .  Nifty initially triggered our intraday long trade by opening above our 2nd long target and did not give a entry to go long . It then triggered our short trade for the day and did not complete any target .  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 . " , those who took a short trade with the cbsl post opening today got nearly 80 points from the short trade . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10100 to test  10080 - 10070 initially and sustaining below it we can see a further correction till 10055 - 10030 . Similarly breaking and sustaining above 10145 we can see a test of 10165 - 10170 initially and breaking / sustaining above it we can see a further move till 10190 - 10215. Those who are holding shorts from last week should keep a trailing cbsl of 10180 for their positions . " , and today Nifty made a high of 10179.20 and reversed by 80+ points from there to close 6 points above the previous close . 

Now in the coming session Nifty needs to break and sustain below 10105 to test 10085 - 10080 initially and sustaining below it we can see a further correction till 10060 - 10040. Similarly breaking and sustaining above 10150 we can see a test of 10170 - 10175 initially and breaking / sustaining above it we can a further move till 10195 - 10215 . 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 . 


Nifty Spot Levels for the day are

Long above 10150 for 10160 - 10175 - 10215 , SL 10120

Short below 10105 for 10095 - 10080 - 10040 , SL 10135

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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.