Wednesday, 14 February 2018

Nifty Spot Outlook for 15th Feb

NIFTY


Nifty spot opened at 10585.75 , it made a high of 10590.55 , it made a low of 10456.65 , before closing at 10500.90

Had mentioned that long positions for the day can be taken above 10580 and short positions can be taken below 10500 . Nifty triggered our long trade for the day at opening and did not complete any target and took our stoploss . Nifty then triggered our short trade and nearly completed 2 targets . As mentioned in the previous post " 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 . ", today Nifty opened above 10550 but failed to close above it . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10580 to test 10625 - 10635 initially and sustaining above it we can see a further upmove till 10675 - 10715. Similarly breaking and sustaining below 10500 we can see a test of 10455 - 10445 initially and breaking and sustaining below it we can see a further correction till 10405 - 10365 . " , and Nifty was unable to sustain above 10580 after opening above it and made a low of 10456.65 at our initial 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 10545 to test 10585 - 10595 initially and sustaining above it we can see a further upmove till 10635 - 10675. Similarly breaking and sustaining below 10460 we can see a test of 10415 - 10405 initially and breaking and sustaining below it we can see a further correction till 10370 - 10330 .


Nifty Spot Levels for the day are

Long above 10545 for 10565 - 10595 - 10675 , SL 10490

Short below 10460 for 10435 - 10405 - 10330 , SL 10515

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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.