Nifty Spot Outlook for 22nd Jan

NIFTY

Nifty spot opened at 10829.20, made a low of 10793.90 ,  it made a new lifetime high of 10906.85 ,  before closing at 10894.70

Had mentioned that long positions for the day can be taken above 10830 and short positions can be taken below 10805 . Nifty initially triggered our short trade and completed just 1 target and took our TSL . Nifty then triggered our long trade and completed all long targets for the day giving 50 points . 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 10805 to test 10790 - 10785 initially and sustaining below it we can see a further correction till 10770 - 10755 . Similarly breaking and sustaining above 10830 we can see a test of 10845 - 10850 initially and breaking and sustaining above it we can see a further move till 10865 - 10880 . " , and Nifty made a low within our initial support zone and reversed to make another new life time high and close above our next resistance zone . 

Now in the coming session Nifty needs to break and sustain above 10910 to test 10925- 10930 initially and sustaining above it we can see a further upmove till 10945 - 10960. Similarly breaking and sustaining below 10880 we can see a test of 10865 - 10860 initially and breaking / sustaining below it we can see a further correction till 10845 - 10830 .

Nifty Spot Levels for the day are

Long above 10910 for 10920 - 10930 - 10960 , SL 10890

Short below 10880 for 10870 - 10860 - 10830 , SL 10900

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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.