Thursday, 8 March 2018

Nifty Spot Outlook for 09th Mar

NIFTY


Nifty spot opened at 10216.25 , it made a low of 10146.40 , it made a high of 10270.35 , before closing at 10242.65 

Had mentioned that long positions for the day can be taken above 10185 and short positions can be taken below 10125 . Nifty triggered our long trade after opening and nearly completed all long targets for the day giving around 80+ points . As mentioned in the previous post " Now in this week Nifty has to sustain / close above 10520 to test 10585 - 10600 initially and above it we can see a move till 10655 - 10720 . Similarly Nifty has to sustain / close below 10395 to test 10335 - 10315 initially and below it we can see a move till 10260 - 10200  ." and Nifty had made a low 10141.55 completing all our short targets in the previous session and gave  a small bounce today . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10185 to test 10215 - 10220 initially and sustaining above it we can see a further upmove till 10245 - 10275. Similarly breaking and sustaining below 10125 we can see a test of 10095 - 10090 initially and breaking and sustaining below it we can see a further correction till 10065 - 10035. " , and Nifty first made a high of 10270.35 near the outer end our next resistance zone.

Had mentioned once March began that " Now for the month of March ,Nifty longs will get confirmed with a consecutive close above 10635 for a initial target of 10780 - 10820 and sustaining / closing above it we can see a further test of 10950 - 11090 . Similarly , shorts will get confirmed with a consecutive close below  10350 for a initial target of 10205 - 10165 and sustaining / closing below it we can see a further test of 10040 - 9900 ." , and today Nifty made a low of 10141.55 and completed our initial short targets for the month . Now sustaining below 10165 we can see further correction till the next targets .

Now in the coming session Nifty needs to break and sustain above 10275 to test 10310 - 10315 initially and sustaining above it we can see a further upmove till 10345 - 10375. Similarly breaking and sustaining below 10210 we can see a test of 10175 - 10170 initially and breaking and sustaining below it we can see a further correction till 10140 - 10110.


Nifty Spot Levels for the day are

Long above 10275 for 10295 - 10315 - 10375 , SL 10230

Short below 10210 for 10190 - 10170 - 10110 , SL 10255

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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.