Tuesday, 10 April 2018

Nifty Spot Outlook for 10th Apr

NIFTY


Nifty spot opened at 10333.70 , it made a low of 10328.50 , it made a high of 10397.70, before closing at 10379.35

Had mentioned that long positions for the day can be taken above 10375 and short positions can be taken below 10290 . Nifty triggered our long trade and missed our 1st target by 2 points .  

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 . 

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 . Nifty has been closing above our monthly long confirmation level and we may see a test  to see  a test of 10520 - 10575 initially .

Now in the coming session Nifty needs to break and sustain above 10415 to test 10455 - 10465 initially and sustaining above it we can see a further upmove till 10495 - 10530. Similarly breaking and sustaining below 10340 we can see a test of 10305 - 10295 initially and breaking and sustaining below it we can see a further correction till 10265 - 10225.


Nifty Spot Levels for the day are

Long above 10415 for 10435 - 10465 - 10530 , SL 10365

Short below 10340 for 10320 - 10295 - 10225 , SL 10390

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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.