Nifty Spot Outlook for 20th Nov

NIFTY

In the previous session Nifty spot opened at 10731.25, made a low of 10688.80 ,  made a high of 10774.70,  before closing at 10763.40

Had mentioned that long trade will get triggered for the day on sustaining above 10705 and short trade will get triggered for the day on sustaining below 10660. Nifty triggered our long trade and did all targets giving 70 points. 

As mentioned " Now in this week Nifty needs to break and sustain / close above 10745 to test 10805 - 10820 initially and above it we can see a test of 10875 - 10935 . Similarly Nifty needs to break and sustain / close below 10620 to test 10560 - 10545 initially and below it we can see a test of 10490 - 10430 .", and today Nifty closed above 10745 and those who are long for the targets of 10805 - 10820 should keep a stoploss of 10665 now .

Also as mentioned "For the month of November , further longs will get confirmed with a consecutive close above 10660 for a initial target of 10945 - 11020 and sustaining / closing above it we can see a further test of 11265 - 11535 . Similarly , shorts will get confirmed with a consecutive close below  10115 for a initial target of 9830 - 9755 and sustaining / closing below it we can see a further move till 9510 - 9235 . ", and Nifty has done 100 points so far above 10660 .

Now in the coming session Nifty needs to break and sustain above 10785 to test 10810 - 10820 initially and sustaining above it we can see a further upmove till 10840 - 10860. Similarly breaking and sustaining below 10740 we can see a test of 10715 - 10710 initially and breaking and sustaining below it we can see a further correction till 10690 - 10665 .

Nifty Spot Levels for the day are

Long above 10785 for 10800 - 10820 - 10860 , SL 10755

Short below 10740 for 10725 - 10710 - 10665 , SL 10770

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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.