Tuesday, 3 April 2018

Nifty Spot Outlook for 03rd Apr

NIFTY


Nifty spot opened at 10151.65 , it made a low of 10127.75 , it made a high of 10220.10, before closing at 10211.80

As mentioned in the weekly post " Now in the coming week Nifty needs to break and sustain / close above 10210 for a test of 10310 - 10335 initially and above it till 10425 - 10520 .Similarly Nifty needs to break and sustain / close below 10015 to test 9915 - 9890 initially and below it till 9805 - 9710 next. " , and Nifty gave a borderline close just above 10211.80 but it will need to sustain above 10210  in the coming session for the upmove to continue.


Now for the month of April ,Nifty longs will get confirmed with a consecutive close above 10315 for a initial target of 10520 - 10575 and sustaining / closing above it we can see a further test of 10750 - 10950 . Similarly , shorts will get confirmed with a consecutive close below  9915 for a initial target of 9705 - 9655 and sustaining / closing below it we can see a further move till 9475 - 9275 .

Now in the coming session Nifty needs to break and sustain above 10245 to test 10280 - 10290 initially and sustaining above it we can see a further upmove till 10320 - 10355. Similarly breaking and sustaining below 10175 we can see a test of 10145 - 10135 initially and breaking and sustaining below it we can see a further correction till 10100 - 10070.


Nifty Spot Levels for the day are

Long above 10245 for 10265 - 10290 - 10355 , SL 10200

Short below 10175 for 10155 - 10135 - 10070 , SL 10225

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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.