Nifty Spot Outlook for 19th Jan

NIFTY

Nifty spot opened at 10873.40 , made a new lifetime high of 10887.50,  it made a low of 10782.40,  before closing at 10817

Had mentioned that long positions for the day can be taken above 10805 and short positions can be taken below 10775 . Nifty opened above our last long target for the day and did not give a chance to enter longs . 

Had mentioned in the previous post " 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 ." , and once Nifty sustained below 10860 we saw a correction till 10782.40 .

Now in the coming session Nifty needs to break and sustain below 10805 to test 10790 - 10785 initially and sustaining below it we can see a further correction till 10770 - 10755. Similarly breaking and sustaining above 10830 we can see a test of 10845 - 10850 initially and breaking / sustaining above it we can see a further move till 10865 - 10880 .

Nifty Spot Levels for the day are

Long above 10830 for 10840 - 10850 - 10880 , SL 10810

Short below 10805 for 10795 - 10785 - 10755 , SL 10825

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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.