Tuesday, 17 April 2018

Nifty Spot Outlook for 18th Apr

NIFTY


Nifty spot opened at 10557.30 , it made a high of 10560.45 , it made a high of 10495.65,  before closing at 10548.70

Had mentioned that long positions for the day can be taken above 10560 and short positions can be taken below 10500 . Nifty did not sustain beyond our long and short trigger today and traded mostly between the long and short range . 

Had mentioned in the previous posts " 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 .", and today Nifty triggered our weekly long trade and now needs to sustain above 10560 to confirm the same in the coming session.

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 has today made a high of 10560.45 today  .

Now in the coming session Nifty needs to break and sustain above 10570 to test 10595 - 10600 initially and sustaining above it we can see a further upmove till 10620 - 10640. Similarly breaking and sustaining below 10525 we can see a test of 10505 - 10500 initially and breaking and sustaining below it we can see a further correction till 10480 - 10460.


Nifty Spot Levels for the day are

Long above 10570 for 10585 - 10600 - 10640 , SL 10540

Short below 10525 for 10515 - 10500 - 10460 , SL 10555

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.