Nifty Spot Outlook for 16th Mar

NIFTY

Nifty spot opened at 10405.45 , it made a high of 10420 , it made a low of 10346.20, before closing at 10360.15

Had mentioned that long positions for the day can be taken above 10450 and short positions can be taken below 10375 . Nifty triggered our short trade and completed just 1 target .  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 Nifty had confirmed our weekly longs and completed 5 weekly long targets this week . Now sustaining above 10390 in the coming session we can again see a move till 10455 - 10530 again . Those who are looking to go short on the next upmove should keep a cbsl of 10450 .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10450 to test 10485 - 10495 initially and sustaining above it we can see a further upmove till 10525 - 10565. Similarly breaking and sustaining below 10375 we can see a test of 10335 - 10325 initially and breaking and sustaining below it we can see a further correction till 10295 - 10260. " , and Nifty made a low of 10346.20 well above our initial support 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 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 10395 to test 10435 - 10445 initially and sustaining above it we can see a further upmove till 10475 - 10510. Similarly breaking and sustaining below 10325 we can see a test of 10285 - 10275 initially and breaking and sustaining below it we can see a further correction till 10245 - 10210.

Nifty Spot Levels for the day are

Long above 10395 for 10420 - 10445 - 10510 , SL 10350

Short below 10325 for 10305 - 10275 - 10210 , SL 10370

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.