Wednesday, 17 January 2018

Nifty Spot Outlook for 18th Jan

NIFTY


Nifty spot opened at 10702.45 , made a low of 10666.75,  it made a new lifetime high of 10803,  before closing at 10788.55

Had mentioned that long positions for the day can be taken above 10715 and short positions can be taken below 10685 . Nifty triggered our short trade and completed 2 short targets for the day and took our TSL . Nifty then triggered our long trade and completed all daily long targets and bettered it by another 50 points . Nifty had confirmed our weekly long trade in the previous sessions and today completed all our weekly long targets . 

Nifty now has resistance near 10820 - 10860 zone and it needs to sustain / close above 10825 in the coming sessions for a further move on the upside . Those who have taken short positions today and are looking to add shorts in the upmove tomorrow should keep a strict cbsl of 10825 for their positions .

Now in the coming session Nifty needs to break and sustain below 10775 to test 10760 - 10755 initially and sustaining below it we can see a further correction till 10740 - 10725. Similarly breaking and sustaining above 10805 we can see a test of 10820 - 10825 initially and breaking / sustaining above it we can see a further move till 10835 - 10850 .


Nifty Spot Levels for the day are

Long above 10805 for 10815 - 10825 - 10850 , SL 10785

Short below 10775 for 10765 - 10755 - 10725 , SL 10790

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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.