Nifty Spot Outlook for 05th Mar

NIFTY

In the previous session Nifty spot opened at 10842.65 , made a low of 10823.10 , it made a high of 10877.90 before closing at 10863.50

Had mentioned that long trade will get triggered for the day on sustaining above 10820 and short trade will get triggered for the day on sustaining below 10765. Nifty triggered our long trade and did 50 points . 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 10925 and then enter for a initial target of 10990 - 11005 and look to hold further only on sustaining or getting a close above 11005 for the next targets of 11060 - 11120. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 10800 and then enter for a initial target of 10740 - 10725 and look to hold further only on sustaining or getting a close below 10725 for the next targets of 10665 - 10605. 

For the month of March , longs in Nifty will get confirmed with a consecutive close above 10930 for a initial target of 11075 - 11115 and sustaining / closing above it we can see a further test of 11240 - 11380 . Similarly , shorts will get confirmed with a consecutive close below  10655 for a initial target of 10510 - 10470 and sustaining / closing below it we can see a further move till 10345 - 10205 . 

Now in the coming session Nifty needs to break and sustain above 10885 to test 10910 - 10915 initially and sustaining above it we can see a further upmove till 10935 - 10960. Similarly breaking and sustaining below 10840 we can see a test of 10815 - 10810 initially and breaking and sustaining below it we can see a further correction till 10790 - 10765.

Nifty Spot Levels for the day are

Long above 10885 for 10900 - 10915 - 10960 , SL 10870

Short below 10840 for 10825 - 10810 - 10765 , SL 10855

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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.