Tuesday, 9 January 2018

Nifty Spot Outlook for 10th Jan

NIFTY


Nifty spot opened at 10645.10 , made a high of 10659.15,  it made a low of 10603.60,  before closing at 10637

Had mentioned that long positions for the day can be taken above 10645 and short positions can be taken below 10605 .  Nifty triggered our long trade and completed just 1  long target for the day  .  

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10605 to test  10585 - 10575 initially and sustaining below it we can see a further correction till 10560 - 10540 . Similarly breaking and sustaining above 10645 we can see a test of 10665 - 10670 initially and breaking / sustaining above it we can see a further move till 10685 - 10705  . " , and Nifty made a high of 10659.15 below our initial resistance zone and low of 10603.60 just touching our short trigger .

Nifty has now given a consecutive close above 10615 and confirmed monthly longs for a initial test of 10700 - 10720 . Though Nifty has given a consecutive close its also important for Bank Nifty to sustain and give a close above its monthly long levels else Nifty might not be able to sustain above the confirmation levels just like it was not able to sustain below its short levels . So in the coming sessions we need Bank Nifty to sustain above 25760 levels for the next move upwards .

Now in the coming session Nifty needs to break and sustain below 10620 to test 10600 - 10595 initially and sustaining below it we can see a further correction till 10575 - 10560. Similarly breaking and sustaining above 10655 we can see a test of 10675 - 10680 initially and breaking / sustaining above it we can see a further move till 10695 - 10715


Nifty Spot Levels for the day are

Long above 10655 for 10665 - 10680 - 10715 , SL 10630

Short below 10620 for 10610 - 10595- 10560 , SL 10645

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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.