Thursday, 5 April 2018

Nifty Spot Outlook for 06th April


Nifty spot opened at 10228.45 , it made a low of 10227.45 , it made a high of 10331.80, before closing at 10325.15

Had mentioned that long positions for the day can be taken above 10165 and short positions can be taken below 10095 . Nifty triggered our long trade by opening above our 2nd target and completed all targets for the day . 

Had mentioned in the previous post " Now in the coming week Nifty needs to break and sustain / close above 10210 for a test of 10310 - 10335 initially and above it till 10425 - 10520 .Similarly Nifty needs to break and sustain / close below 10015 to test 9915 - 9890 initially and below it till 9805 - 9710 next. " , and today Nifty made a high of 10331.80 completing our initial long targets . Now sustaining above 10335 we can see the next move till 10425 - 10520 

Now for the month of April ,Nifty longs will get confirmed with a consecutive close above 10315 for a initial target of 10520 - 10575 and sustaining / closing above it we can see a further test of 10750 - 10950 . Similarly , shorts will get confirmed with a consecutive close below  9915 for a initial target of 9705 - 9655 and sustaining / closing below it we can see a further move till 9475 - 9275 . Today Nifty has closed above our monthly long confirmation level and we need a consecutive close in the coming session to see  a test of 10520 - 10575 initially .

Now in the coming session Nifty needs to break and sustain above 10370 to test 10415 - 10425 initially and sustaining above it we can see a further upmove till 10465 - 10505. Similarly breaking and sustaining below 10280 we can see a test of 10235 - 10225 initially and breaking and sustaining below it we can see a further correction till 10190 - 10145.

Nifty Spot Levels for the day are

Long above 10370 for 10395 - 10425 - 10505 , SL 10310

Short below 10280 for 10255 - 10225 - 10145 , SL 10340

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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.

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