Weekly Spot Outlook Of Nifty For 07th to 10th Apr

In the previous week : 

Nifty went up by 18 points  then went down by 604 points before finally ending the week with a loss of 576 points compared to last weekly closing. 

Nifty triggered our short trade as per levels given last week and did 274 points. 

Nifty had made a new life time high of 12430 on 20th January and has since then corrected to 7511 on 24th March . 

Nifty for this week :

• Sustaining above 8375 enter for 8560 - 8705 - 8850
• Further sustaining above 9060 enter for 9185 - 9620 - 10090

• Sustaining below 7790 enter for 7610 - 7465 - 7315
• Further sustaining below 7105 enter for 6980 - 6550 - 6075 

How to use these levels  

• For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets  . 

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.