Wednesday, 3 January 2018

Nifty Spot Outlook for 04th Jan

NIFTY


Nifty spot opened at 10482.65 , made a high of 10503.60, it made a low of 10429.55 ,  before closing at 10443.20

Had mentioned that long positions for the day can be taken above 10460 and short positions can be taken below 10425 .  Nifty triggered our long trade and nearly completed all 3 long targets for the day before taking our TSL .  Nifty had also confirmed our weekly short trade in the previous session and completed 5 weekly short targets giving around 100 points from the weekly short trade  . Had mentioned in the previous post that " Those who are short should keep a cbsl of 10510 now " , and Nifty gave a fresh entry at today high to go short again . 

Had mentioned in the previous post " 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  . " , and today Nifty made a high of 10503.60 within our next resistance zone .  

Nifty has given 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 10410 - 10405 initially and sustaining below it we can see a further correction till 10390 - 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 - 10405 - 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.