Nifty Spot Outlook for 16th Sep

NIFTY

In the previous session Nifty spot opened at 10986.80, made a low of 10945.75, made a high of 11084.45,  before closing at 10981.05

Had mentioned that long trade will get triggered for the day on sustaining above 11020 and short trade will get triggered for the day on sustaining below 10945. Nifty triggered our long trade and completed 2 targets. 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11175 and then enter for a initial target of 11280 - 11305 and look to hold further only on sustaining or getting a close above 11305 for the next targets of 11395 - 11490. 

&

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 10875 - 10850 and look to hold further only on sustaining or getting a close below 10850 for the next targets of 10760 - 10660.

For the month of September , longs will get confirmed in Nifty with a consecutive close above 11270 for a initial target of 11530 - 11600 and sustaining / closing above 11600 we can see a further move till 11825 - 12070 .  Similarly shorts will get confirmed with a consecutive close below 10775 for  a initial target of 10515 - 10450 and sustaining / closing below 10450 we can see a further move till 10225 - 9975 . 

Now on the upside Nifty has immediate resistance near 11170 - 11270 in the coming sessions and only on getting a consecutive close above 11270 we can see a further upmove .

On the downside Nifty has immediate support near 10870 - 10775 in the coming sessions and on getting a consecutive close below 10775 we can see the correction resume to break the lows made in August. 

Now in the coming session Nifty needs to break and sustain above 11115 test 11155 - 11165 initially and sustaining above it we can see a further upmove till 11195 - 11235. Similarly breaking and sustaining below 11040 we can see a test of 11000 - 10990 initially and breaking and sustaining below it we can see a further correction till 10955 - 10920.

Nifty Spot Levels for the day are

Long above 11115 for 11135 - 11165 - 11235 , SL 11085

Short below 11040 for 11015 - 10990 - 10920 , SL 11065

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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.