Thursday, 22 March 2018

Nifty Spot Outlook for 22nd Mar

NIFTY


Nifty spot opened at 10181.95 , it made a high of 10227.30 , it made a low of 10132.95, before closing at 10155.25

Had mentioned in the previous post " Now in this week Nifty has to sustain / close above 10300 to test 10405 - 10435 initially and above it we can see a move till 10525 - 10630 . Similarly Nifty has to sustain / close below 10090 to test 9985 - 9955 initially and below it we can see a move till 9865 - 9765 ." , and so far this week Nifty made a low of 10049.10 but managed to close above 10090 . Nifty has also not been able to break and sustain above 10300 and has been trading in a narrow range which can be broken and sustained in the coming session.


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 10075.30 and nearly tested our next targets at 10040 - 9900  for the month . As mentioned in the previous posts " Now closing / sustaining below 10165 is needed for further correction till 10040 - 9900  . Nifty has immediate resistance near 10455 - 10485 . " , Nifty has made a low of 10049.10 this week just above our expected range of 10040 - 9900.

Now in the coming session Nifty needs to break and sustain above 10190 to test 10230 - 10240 initially and sustaining above it we can see a further upmove till 10270 - 10305. Similarly breaking and sustaining below 10120 we can see a test of 10085 - 10075 initially and breaking and sustaining below it we can see a further correction till 10040 - 10005.


Nifty Spot Levels for the day are

Long above 10190 for 10215 - 10240 - 10305 , SL 10145

Short below 10120 for 10095 - 10075 - 10005 , SL 10165

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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.