Sunday, 7 January 2018

Nifty Spot Outlook for 08th Jan

NIFTY


Nifty spot opened at 10534.25 , made a low of 10520.10,  it made a high of 10566.10,  before closing at 10558.85

Had mentioned that long positions for the day can be taken above 10525 and short positions can be taken below 10485 .  Nifty triggered our long trade and completed 2 long targets for the day  . Had mentioned in the previous post that " Those who are short should keep a cbsl of 10510 now " , and it has been taken . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10485 to test  10465 - 10460 initially and sustaining below it we can see a further correction till 10445 - 10425 . Similarly breaking and sustaining above 10525 we can see a test of 10545 - 10550 initially and breaking / sustaining above it we can see a further move till 10565 - 10585  . " , and Nifty made a high of 10566.10 testing our 2nd resistance for the day.

Nifty now needs to give a consecutive close above 10615 to confirm monthly longs for a initial test of 10700 - 10720 .

Now in the coming session Nifty needs to break and sustain below 10540 to test 10520 - 10515 initially and sustaining below it we can see a further correction till 10500 - 10480. Similarly breaking and sustaining above 10580 we can see a test of 10595 - 10605 initially and breaking / sustaining above it we can see a further move till 10620 - 10635


Nifty Spot Levels for the day are

Long above 10575 for 10590 - 10605 - 10635 , SL 10550

Short below 10540 for 10530 - 10515 - 10480 , SL 10565

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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.