Nifty Spot Outlook for 16th Apr

NIFTY

Nifty spot opened at 10495.30 , it made a high of 10519.90 , it made a low of 10451.45,  before closing at 10480.60

Had mentioned that long positions for the day can be taken above 10490 and short positions can be taken below 10430 . Nifty triggered our long trade and completed just one  target  .  

Now this week Nifty needs to break and sustain / close above 10560 for a test of 10640 - 10660 initially and above it till 10735 - 10810 .Similarly Nifty needs to break and sustain / close below 10400 to test 10320 - 10300 initially and below it till 10230 - 10150 .

As mentioned previously  " 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 had confirmed our monthly longs above 10315 and we saw a test  of 10520 last week  .

Now in the coming session Nifty needs to break and sustain above 10510 to test 10540 - 10550 initially and sustaining above it we can see a further upmove till 10575 - 10605. Similarly breaking and sustaining below 10450 we can see a test of 10420 - 10415 initially and breaking and sustaining below it we can see a further correction till 10385 - 10355.

Nifty Spot Levels for the day are

Long above 10510 for 10530 - 10550 - 10605 , SL 10470

Short below 10450 for 10435 - 10415 - 10355 , SL 10490

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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.