Wednesday, 4 April 2018

Nifty Spot Outlook for 04th April

NIFTY


Nifty spot opened at 10186.85 , it made a low of 10171.05 , it made a high of 10255.35, before closing at 10245

Had mentioned that long positions for the day can be taken above 10245 and short positions can be taken below 10175 . Nifty momentarily triggered our short trade and reversed without sustaining . It then went up to trigger our long trade but could not complete any daily targets .

Had mentioned in the previous 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 had given a borderline close triggering our weekly long in the previous session and has now sustained above it to make a move to our initial targets of 10310 - 10335 . 


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 10280 to test 10310 - 10320 initially and sustaining above it we can see a further upmove till 10345 - 10375. Similarly breaking and sustaining below 10210 we can see a test of 10180 - 10170 initially and breaking and sustaining below it we can see a further correction till 10145 - 10115.


Nifty Spot Levels for the day are

Long above 10280 for 10295 - 10320 - 10375 , SL 10235

Short below 10210 for 10195 - 10170 - 10115 , SL 10255

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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.