Nifty Spot Outlook for 11th Mar

NIFTY

In the previous session Nifty spot opened at 11038.85 , made a low of 11008.95 , it made a high of 11049.00 before closing at 11035.40

Had mentioned that long trade will get triggered for the day on sustaining above 11080 and short trade will get triggered for the day on sustaining below 11035. Nifty triggered our short trade and did 25 points .   

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11095 and then enter for a initial target of 11155 - 11175 and look to hold further only on sustaining or getting a close above 11175 for the next targets of 11225 - 11285. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 10975 and then enter for a initial target of 10915 - 10900 and look to hold further only on sustaining or getting a close below 10900 for the next targets of 10845 - 10790. 

Now Nifty has immediate resistance at 11095 - 11115 in the coming session which it needs to break and sustain above for a further upmove towards 11170 - 11240 . 

Nifty has good support near 10915 - 10900 and it needs to hold these for the upmove to resume incase of a correction.

Also as mentioned " 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 . " , and Nifty confirmed our monthly longs and reached our initial targets of 11075 - 11115 with a high of 11089.05  . 

Now in the coming session Nifty needs to break and sustain above 11060 to test 11080 - 11085 initially and sustaining above it we can see a further upmove till 11105 - 11130. Similarly breaking and sustaining below 11010 we can see a test of 10990 - 10985 initially and breaking and sustaining below it we can see a further correction till 10965 - 10940.

Nifty Spot Levels for the day are

Long above 11060 for 11070 - 11085 - 11130 , SL 11040

Short below 11010 for 11000 - 10985 - 10940 , SL 11030

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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.