Sunday, 11 February 2018

Nifty Spot Outlook for 12th Feb

NIFTY


Nifty spot opened at 10416.50 , it made a low of 10398.20 , it made a high of 10480.20 , before closing at 10454.95

Had mentioned that long positions for the day can be taken above 10615 and short positions can be taken below 10540 . Nifty opened with a gap down and did not give a chance to enter short trade for the day . Now this week Nifty has to sustain / close above 10550 to test 10650 - 10675 initially and above it till 10765 - 10860 next . For a further downmove this week Nifty has to sustain / close below 10360 to test 10260 - 10235 initially and below it till 10145 - 10050 next . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10615 to test 10655 - 10665 initially and sustaining above it we can see a further upmove till 10705 - 10740. Similarly breaking and sustaining below 10540 we can see a test of 10495 - 10485 initially and breaking and sustaining below it we can see a further correction till 10450 - 10415 . " , and Nifty made a low of 10398.20 below our next support zone  . 

For the month of February Nifty has triggered our monthly shorts  for a initial target of 10775 - 10745 and breaking and sustaining below it we can see a further test of 10635 - 10515 . Monthly longs will get confirmed with a consecutive close above 11150 for a initial target of 11280 - 11310 and breaking and sustaining above it we can see a further test of 11420 - 11540 . Sustaining below 10515 Nifty can see a retest of 10435 - 10330 zone . For a slightly bigger correction Nifty needs to give a close below 10390 for a test of 10240 - 10200 initially .

Now in the coming session Nifty needs to break and sustain above 10490 to test 10530 - 10540 initially and sustaining above it we can see a further upmove till 10570 - 10610. Similarly breaking and sustaining below 10420 we can see a test of 10380 - 10370 initially and breaking and sustaining below it we can see a further correction till 10340 - 10300.


Nifty Spot Levels for the day are

Long above 10490 for 10515 - 10540 - 10610 , SL 10445

Short below 10420 for 10395 - 10370 - 10300 , SL 10465

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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.