Nifty Spot Outlook for 26th Apr

NIFTY

Nifty spot opened at 10612.40 , it made a high of 10612.60 , it made a high of 10576.65 ,  before closing at 10587.35

Had mentioned that long positions for the day can be taken above 10625 and short positions can be taken below 10605 . Nifty initially triggered our short trade and completed all targets . 

Had mentioned in the previous post "Now this week Nifty needs to break and sustain / close above 10585 for a test of 10610 - 10615 initially and above it till 10635 - 10655 .Similarly Nifty needs to break and sustain / close below 10540 to test 10520 - 10515 initially and below it till 10495 - 10475 ." , and Nifty triggered our weekly long trade and made a high of 10638.35 this week testing our next targets of 10635 - 10655 .

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 10638.35 and also closed above 10575 . Now sustaining above it in the coming session can take us to our next targets for the month.

Now in the coming session Nifty needs to break and sustain above 10595 to test 10605 - 10610 initially and sustaining above it we can see a further upmove till 10620 - 10630. Similarly breaking and sustaining below 10580 we can see a test of 10570 - 10565 initially and breaking and sustaining below it we can see a further correction till 10555 - 10545. The target range has narrowed down a lot in the past few sessions and we should see a trending move in the next 2 sessions .

Nifty Spot Levels for the day are

Long above 10595 for 10600 - 10610 - 10630 , SL 10585

Short below 10580 for 10575 - 10565 - 10545 , SL 10590

The expected expiry range is 

Upper End - 10656

Lower End - 10518 

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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.