Sunday, 25 February 2018

Nifty Spot Outlook for 26th Feb

NIFTY


Nifty spot opened at 10408.10 , it made a low of 10396.65 , it made a high of 10499.10, before closing at 10491.05

Had mentioned that long positions for the day can be taken above 10410 and short positions can be taken below 10355 . Nifty triggered our long trade and  completed all  long targets for the day giving 75 points . Last week Nifty had failed to give a close below 10360 for the correction to continue further and we saw Nifty recover to close near 10500 . Now in this week Nifty has to sustain / close above 10535 to test 10625 - 10645 initially and above it we can see a move till 10705 - 10770 . Similarly Nifty has to sustain / close below 10450 to test 10355 - 10335 initially and below it we can see a move till 10275 - 10210 . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10410 to test 10435 - 10440 initially and sustaining above it we can see a further upmove till 10460 - 10485. Similarly breaking and sustaining below 10355 we can see a test of 10330 - 10325 initially and breaking and sustaining below it we can see a further correction till 10305 - 10280 . " , and Nifty made a high of 10499.10 above our next resistance zone and also closed above it . 


For the month of March , longs will get confirmed with a consecutive close above 10520 for a initial target of 10655 - 10695 and sustaining / closing above it we can see a further test of 10815 - 10950 . Similarly , shorts will get confirmed with a consecutive close below  10250 for a initial target of 10110 - 10075 and sustaining / closing below it we can see a further test of 9950 - 9820 . 

Now in the coming session Nifty needs to break and sustain above 10515 to test 10545 - 10550 initially and sustaining above it we can see a further upmove till 10575 - 10595. Similarly breaking and sustaining below 10465 we can see a test of 10440 - 10435 initially and breaking and sustaining below it we can see a further correction till 10410 - 10385 .


Nifty Spot Levels for the day are

Long above 10515 for 10530 - 10550 - 10595 , SL 10480

Short below 10465 for 10450 - 10435 - 10385 , SL 10500

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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.