Nifty Spot Outlook for 20th Aug

NIFTY

In the previous session Nifty spot opened at 11437.15 made a low of 11431.80 , then made a high of 11486.45 ,   before closing at 11470.75

Had mentioned that long trade will get triggered for the day on sustaining above 11410 and short trade will get triggered for the day on sustaining below 11360. Nifty triggered our long trade and completed all targets . 

In this week Nifty needs to break and sustain / close above 11525 to test 11585 - 11600 initially and above it we can see a test of 11650 - 11700 . Similarly Nifty needs to break and sustain / close below 11415 to test 11355 - 11340 initially and below it we can see a test of 11290 - 11235 .

Had mentioned in the previous post " For the month of August ,Nifty longs will get confirmed with a consecutive close above 11435 for a initial target of 11520 - 11540 and sustaining / closing above it we can see a further test of 11610 - 11690 . Similarly , shorts will get confirmed with a consecutive close below  11275 for a initial target of 11195 - 11175 and sustaining / closing below it we can see a further move till 11100 - 11025 . " , and we had exited near 11500 and post that we had seen our stoploss being taken for longs . Now Nifty has to break and sustain above 11525 for any further upmove else we can see a dip again till 11340 - 11325 where we  have immediate support.

Now in the coming session Nifty needs to break and sustain above 11490 to test 11505 - 11520 initially and sustaining above it we can see a further upmove till 11540 - 11560. Similarly breaking and sustaining below 11450 we can see a test of 11430 - 11420 initially and breaking and sustaining below it we can see a further correction till 11405 - 11385. 

Nifty Spot Levels for the day are

Long above 11490 for 11505 - 11520 - 11560 , SL 11465

Short below 11450 for 11435 - 11420 - 11385 , SL 11475

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.