Nifty Spot Outlook for 08th Mar

NIFTY

Nifty spot opened at 10232.95 , it made a high of 10243.35 , it made a low of 10141.55 , before closing at 10154.20

Had mentioned that long positions for the day can be taken above 10280 and short positions can be taken below 10220 . Nifty triggered our short trade after opening and nearly completed all short targets for the day giving around 75+ points . As mentioned in the previous post " Now in this week Nifty has to sustain / close above 10520 to test 10585 - 10600 initially and above it we can see a move till 10655 - 10720 . Similarly Nifty has to sustain / close below 10395 to test 10335 - 10315 initially and below it we can see a move till 10260 - 10200  ." and Nifty today made a low 10141.55 and completed all our weekly short targets after confirming our weekly shorts in the previous session.

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10280 to test 10305 - 10315 initially and sustaining above it we can see a further upmove till 10340 - 10365. Similarly breaking and sustaining below 10220 we can see a test of 10195 - 10185 initially and breaking and sustaining below it we can see a further correction till 10160 - 10135. " , and Nifty first made a low of 10141.55 near the lower end our next support zone.

Had mentioned once March began that " Now for the month of March ,Nifty longs will get confirmed with a consecutive close above 10635 for a initial target of 10780 - 10820 and sustaining / closing above it we can see a further test of 10950 - 11090 . Similarly , shorts will get confirmed with a consecutive close below  10350 for a initial target of 10205 - 10165 and sustaining / closing below it we can see a further test of 10040 - 9900 ." , and today Nifty made a low of 10141.55 and completed our initial short targets for the month . Now sustaining below 10165 we can see further correction till the next targets .

Now in the coming session Nifty needs to break and sustain above 10185 to test 10215 - 10220 initially and sustaining above it we can see a further upmove till 10245 - 10275. Similarly breaking and sustaining below 10125 we can see a test of 10095 - 10090 initially and breaking and sustaining below it we can see a further correction till 10065 - 10035.

Nifty Spot Levels for the day are

Long above 10185 for 10200 - 10220 - 10275 , SL 10145

Short below 10125 for 10110 - 10090 - 10035 , SL 10165

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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.