Nifty Spot Outlook for 13th Mar

NIFTY

Nifty spot opened at 10301.60 , it made a low of 10295.45 , it made a high of 10433.65, before closing at 10421.40 

Had mentioned that long positions for the day can be taken above 10255 and short positions can be taken below 10200 . Nifty triggered our long trade after opening and completed all our daily targets .Had mentioned in the previous post " Now in this week Nifty has to sustain / close above 10300 to test 10375 - 10390 initially and above it we can see a move till 10455 - 10530 . Similarly Nifty has to sustain / close below 10155 to test 10080 - 10060 initially and below it we can see a move till 9995 - 9925 .", and today Nifty confirmed our weekly longs and completed 4 weekly long targets . Now sustaining above 10390 in the coming session we can a move till 10455 - 10530 .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10255 to test 10280 - 10290 initially and sustaining above it we can see a further upmove till 10315 - 10340. Similarly breaking and sustaining below 10200 we can see a test of 10175 - 10165 initially and breaking and sustaining below it we can see a further correction till 10140 - 10115. " , and Nifty made a high of 10433.65 once it confirmed our weekly longs too on the back of some short covering .

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 closing / sustaining below 10165 is needed for further correction till 10040 - 9900  . Nifty has immediate resistance near 10455 - 10485 .

Now in the coming session Nifty needs to break and sustain above 10460 to test 10495 - 10505 initially and sustaining above it we can see a further upmove till 10540 - 10575. Similarly breaking and sustaining below 10385 we can see a test of 10345 - 10335 initially and breaking and sustaining below it we can see a further correction till 10305 - 10265.

Nifty Spot Levels for the day are

Long above 10460 for 10480 - 10505 - 10575 , SL 10410

Short below 10385 for 10365 - 10335 - 10265 , SL 10435

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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.