Tuesday, 2 January 2018

Nifty Spot Outlook for 03rd Jan

NIFTY


Nifty spot opened at 10477.55 , made a high of 10495.20, it made a low of 10404.65 ,  before closing at 10442.20

Had mentioned that long positions for the day can be taken above 10455 and short positions can be taken below 10415 .  Nifty initially triggered our long trade and nearly completed all 3 long targets for the day before taking our TSL . Nifty then triggered our short trade and completed just 1 target . Nifty had also confirmed our weekly short trade in the previous session and today completed 5 weekly short targets giving around 100 points from the weekly short trade  . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10415 to test  10395 - 10390 initially and sustaining below it we can see a further correction till 10375 - 10355 . Similarly breaking and sustaining above 10455 we can see a test of 10475 - 10480 initially and breaking / sustaining above it we can see a further move till 10500 - 10515  . " , and today Nifty made a high of 10495.20 just below our next resistance zone for the day and though it broke below 10415 it could sustain . 

Nifty today gave a consecutive close below 10450 and we can see a test of 10365 - 10340 levels . Those who are short should keep a cbsl of 10510 now.


Now in the coming session Nifty needs to break and sustain below 10425 to test 10405 - 10400 initially and sustaining below it we can see a further correction till 10385 - 10370. Similarly breaking and sustaining above 10460 we can see a test of 10480 - 10485 initially and breaking / sustaining above it we can see a further move till 10500 - 10515


Nifty Spot Levels for the day are

Long above 10460 for 10470 - 10485 - 10515 , SL 10435

Short below 10425 for 10415 - 10400 - 10370 , SL 10450

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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.