Nifty Spot Outlook for 25th Nov

NIFTY

In the previous session Nifty spot opened at 11967.30 , made a high of 11968.10, made a low of 11883.50,  before closing at 11914.40

Had mentioned that long trade will get triggered for the day on sustaining above 11990 and short trade will get triggered for the day on sustaining below 11945. Nifty triggered our short trade and completed all targets giving 50+ points .The intraday targets and stoplosses have narrowed and it is a indication of a trending move around the corner.  

Nifty has been trading indecisively and we can expect the range bound moves between 11750 - 12050 to continue till either side is taken out decisively and on good volumes. 

For this expiry week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11960 and then enter for a initial target of 12005 - 12020 and look to hold further only on sustaining or getting a close above 12020 for the next targets of 12060 - 12100. 

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Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11870 and then enter for a initial target of 11825 - 11810 and look to hold further only on sustaining or getting a close below 11810 for the next targets of 11770 - 11725. 

For this month :

For the month of November , longs will get confirmed in Nifty with a consecutive close above 12010 for a initial target of 12145 - 12180 and sustaining / closing above 12180 we can see a further move till 12300 - 12430 .  Similarly shorts will get confirmed with a consecutive close below 11745 for  a initial target of 11610 - 11575 and sustaining / closing below 11575 we can see a further move till 11455 - 11325 .

So far this month Nifty has failed to give a consecutive close above 12010 to confirm our monthly long and is been putting pressure on Bank Nifty too now which had confirmed its monthly longs and had completed its initial long targets and has now also tested completed its next target zone. 

Nifty needs to break and close well above 12010 - 12050 zone for the upmove to gain strength and go towards 12130 - 12180 in this expiry week. Bank Nifty has been outperforming the Nifty this month but without the Nifty participating in the expiry week now even Bank Nifty will  find it difficult to sustain this outperformance.

On the downside Nifty has immediate support near 11885 - 11870 in the coming sessions and on getting a strong close below 11870 we can see a down move towards 11795 - 11745 levels .

As long as Nifty is able to hold / close above 11745 incase of a correction this month we can expect the upmove to resume.

Now in the coming session Nifty needs to break and sustain above 11930 to test 11950 - 11955 initially and sustaining above it we can see a further upmove till 11970 - 11985. Similarly breaking and sustaining below 11895 we can see a test of 11880 - 11875 initially and breaking and sustaining below it we can see a further correction till 11860 - 11845.

Nifty Spot Levels for the day are

Long above 11930 for 11940 - 11955 - 11985 , SL 11920

Short below 11895 for 11885 - 11875 - 11845 , SL 11910

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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.