Monday, 9 April 2018

Nifty Spot Outlook for 09th Apr

NIFTY


Nifty spot opened at 10322.75 , it made a low of 10290.85 , it made a high of 10350.45, before closing at 10331.60

Had mentioned that long positions for the day can be taken above 10370 and short positions can be taken below 10280 . Nifty traded between our long and short trigger indicating indecisiveness . 

Now in the coming week Nifty needs to break and sustain / close above 10445 for a test of 10560 - 10590 initially and above it till 10690 - 10800 .Similarly Nifty needs to break and sustain / close below 10220 to test 10105 - 10075 initially and below it till 9975 - 9865 next. 

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 . Today Nifty has closed above our monthly long confirmation level and we need a consecutive close in the coming session to see  a test of 10520 - 10575 initially .

Now in the coming session Nifty needs to break and sustain above 10375 to test 10420 - 10430 initially and sustaining above it we can see a further upmove till 10465 - 10510. Similarly breaking and sustaining below 10290 we can see a test of 10245 - 10235 initially and breaking and sustaining below it we can see a further correction till 10195 - 10155.


Nifty Spot Levels for the day are

Long above 10375 for 10400 - 10430 - 10510 , SL 10320

Short below 10290 for 10265 - 10235 - 10155 , SL 10345

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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.