Nifty Spot Outlook for 20th Mar

NIFTY

Nifty spot opened at 10215.35 , it made a high of 10224.55 , it made a low of 10075.30, before closing at 10094.25

Had mentioned that long positions for the day can be taken above 10235 and short positions can be taken below 10155 . Nifty triggered our short trade and nearly completed all targets giving around 50+ points  .  Had mentioned in the previous post " Now in this week Nifty has to sustain / close above 10300 to test 10405 - 10435 initially and above it we can see a move till 10525 - 10630 . Similarly Nifty has to sustain / close below 10090 to test 9985 - 9955 initially and below it we can see a move till 9865 - 9765 ." , and today Nifty made a low of 10075.30 but managed to close just above 10090 . In tomorrows session sustaining below 10090 we can see further pressure on the Nifty on the downside and can move towards our initial targets .

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain above 10395 to test 10435 - 10445 initially and sustaining above it we can see a further upmove till 10475 - 10510. Similarly breaking and sustaining below 10325 we can see a test of 10285 - 10275 initially and breaking and sustaining below it we can see a further correction till 10245 - 10210. " , and Nifty made a low of 10180.25 below our next support zone and closed below it too  . 

Had mentioned once March began that " Now for the month of March ,Nifty longs will get confirmed with a consecutive close above 10635 for a initial target of 10780 - 10820 and sustaining / closing above it we can see a further test of 10950 - 11090 . Similarly , shorts will get confirmed with a consecutive close below  10350 for a initial target of 10205 - 10165 and sustaining / closing below it we can see a further test of 10040 - 9900 ." , and today Nifty made a low of 10075.30 and nearly tested our next targets at 10040 - 9900  for the month . As mentioned in the previous post " Now closing / sustaining below 10165 is needed for further correction till 10040 - 9900  . Nifty has immediate resistance near 10455 - 10485 . " , today Nifty has closed well below 10165 and now we see a test of 10040 - 9900 range .

Now in the coming session Nifty needs to break and sustain above 10135 to test 10175 - 10185 initially and sustaining above it we can see a further upmove till 10215 - 10255. Similarly breaking and sustaining below 10055 we can see a test of 10015 - 10005 initially and breaking and sustaining below it we can see a further correction till 9970 - 9935.

Nifty Spot Levels for the day are

Long above 10135 for 10155 - 10185 - 10255 , SL 10080

Short below 10055 for 10035 - 10005 - 9935, SL 10110

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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.