Wednesday 13 February 2019

Nifty Spot Outlook for 14th Feb

NIFTY


In the previous session Nifty spot opened at 10870.55 and made a high of 10891.65  ,  it made a low of 10772.10  before closing at 10793.65

Had mentioned that long trade will get triggered for the day on sustaining above 10865 and short trade will get triggered for the day on sustaining below 10795. Nifty triggered our long trade and did just 25 points .It then reversed to trigger our short trade and again did just 20 points . Nifty indicated some indecisiveness today as it triggered both side trades .

Had mentioned " For this week Nifty needs to break and sustain / close above 11030 to test 11115 - 11135 initially and above it we can see a test of 11215 - 11295 . Similarly Nifty needs to break and sustain / close below 10860 to test 10775 - 10750 initially and below it we can see a test of 10675 - 10590. Those who are short should keep a stoploss of 10920 and look to exit once near 10775 - 10750 ." , and today Nifty completed our initial targets with a low of 10772.10 . No 

Now in the coming session Nifty needs to break and sustain below 10750 for a further down move till 10675 - 10590 . Holding 10750 we can see a small bounce back till 10860 - 10890 again . 

For the month of February , longs in Nifty will get confirmed with a consecutive close above 11010 for a initial target of 11195 - 11245 and sustaining / closing above it we can see a further test of 11405 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10655 for a initial target of 10465 - 10420 and sustaining / closing below it we can see a further move till 10260 - 10080 . Nifty had given a consecutive close above  11010 confirming our monthly long trade for a initial target of 11195 - 11245 and reversed to take our stoploss as Bank Nifty did not support and the upmove was based on a few index stocks moving up . 

Now in the coming session Nifty needs to break and sustain above 10820 to test 10850 - 10855 initially and sustaining above it we can see a further upmove till 10880 - 10905. Similarly breaking and sustaining below 10765 we can see a test of 10740 - 10735 initially and breaking and sustaining below it we can see a further correction till 10710 - 10680.



Nifty Spot Levels for the day are

Long above 10820 for 10835 - 10855 - 10905 , SL 10800

Short below 10765 for 10750 - 10735 - 10680 , SL 10785


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.

No comments:

Post a Comment