Nifty Spot Outlook for 20th Mar

NIFTY

In the previous session Nifty spot opened at 11500.30, made a low of 11451.25 , it made a high of 11543.85 before closing at 11532.40

Had mentioned that long trade will get triggered for the day on sustaining above 11485 and short trade will get triggered for the day on sustaining below 11440. Nifty triggered our long trade and completed all our targets .

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11485 and then enter for a initial target of 11550 - 11565 and look to hold further only on sustaining or getting a close above 11565 for the next targets of 11615 - 11675. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11365 and then enter for a initial target of 11305 - 11290 and look to hold further only on sustaining or getting a close below 10900 for the next targets of 11235 - 11175. 

Nifty triggered our long trade and nearly tested our initial targets of 11550 - 11565  

Nifty has immediate resistance at 11495 - 11585 zone now where it can take a pause in this upmove .

Nifty has immediate support near 11170 - 11050 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 had confirmed our monthly longs and has made a high of 11543.85 completing our next targets of 11240 - 11380 and also exceeded it by 150 points . 

Now in the coming session Nifty needs to break and sustain above 11555 to test 11575 - 11580 initially and sustaining above it we can see a further upmove till 11600 - 11620. Similarly breaking and sustaining below 11510 we can see a test of 11490 - 11485 initially and breaking and sustaining below it we can see a further correction till 11465 - 11445

Nifty Spot Levels for the day are

Long above 11555 for 11565 - 11580 - 11620 , SL 11535

Short below 11510 for 11500 - 11485 - 11445 , SL 11530

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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.