Tuesday, 27 March 2018

Nifty Spot Outlook for 28th Mar

NIFTY


Nifty spot opened at 10188 , it made a high of 10207.90 , it made a low of 10139.65, before closing at 10184.15

Had mentioned that long positions for the day can be taken above 10165 and short positions can be taken below 10095 . Nifty triggered our long trade for the day and completed 2 targets . Had mentioned in the previous post " Now in the coming week Nifty needs to break and sustain / close above 10050 for a test of 10120 - 10135 initially and above it till 10195 - 10260 .Similarly Nifty needs to break and sustain / close below 9920 to test 9850 - 9830 initially and below it till 9770 - 9705 next. ", and Nifty triggered our weekly longs in the previous session and today made a high of 10207.90 testing our last long target zone of 10195 - 10260 for the week .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10165 to test 10200 - 10210 initially and sustaining above it we can see a further upmove till 10240 - 10275. Similarly breaking and sustaining below 10095 we can see a test of 10060 - 10050 initially and breaking and sustaining below it we can see a further correction till 10020 - 9985 " , and Nifty made a high of 10207.90 completing our initial targets.  

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 9951.90 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 9951.90 last week just near our last expected target of 9900 and has bounced nearly 250 points .

Now in the coming session Nifty needs to break and sustain above 10220 to test 10260 - 10270 initially and sustaining above it we can see a further upmove till 10300 - 10335. Similarly breaking and sustaining below 10145 we can see a test of 10110 - 10100 initially and breaking and sustaining below it we can see a further correction till 10065 - 10030.


Nifty Spot Levels for the day are

Long above 10220 for 10245 - 10270 - 10335 , SL 10175

Short below 10145 for 10125 - 10000 - 10030 , SL 10195

Expected Expiry Range is as follows

Upper End - 10267

Lower End - 10101


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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.