Nifty Spot Outlook for 15th Apr

In the previous session : 

Nifty went down by 200 points before closing lower by 118 points on Monday as compared to the previous day's close.

Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 

On 13th Apr :

Nifty triggered our short trade but did not complete any targets indicating indecisiveness.

For 15th Apr  :

Sustaining above 9135 enter for 9215 - 9315 - 9575 , SL 9035

Sustaining below 8855 enter for 8775 - 8675 - 8415 , SL 8955

Nifty broke below multiple supports and made a low of 7511.10 on the back of selling in all global indexes in Mar 

Nifty has immediate resistance at 9255 - 9485 this week and sustaining / closing above it in the coming sessions is required for a further upmove towards 9880 - 9980 .

Now on the downside Nifty has immediate support at 8880 - 8735 and sustaining / closing below it we can see a move towards 8560 - 8375 zone . Closing below 8375 we can see it move to the next support at 7790 - 7610 .

How to use these levels 

• Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 

For this month :

• Nifty longs will get confirmed with a consecutive close above 9690 for a target of 10350 - 10590 and sustaining / closing above 10590 we can see a further move till 10830 - 11120.

• Nifty shorts will get confirmed with a consecutive close below 7510 for  a initial target of 6840 - 6600 and sustaining / closing below 6600 we can see a further move till 6365 - 6075 . 

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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.