Nifty Spot Outlook for 13th Apr

NIFTY

Nifty spot opened at 10410.65 , it made a low of 10395.25 , it made a high of 10469.90,  before closing at 10458.65

Had mentioned that long positions for the day can be taken above 10450 and short positions can be taken below 10385 . Nifty triggered our long trade and completed just one  target  .  

Had mentioned in the previous posts " Now this week Nifty needs to break and sustain / close above 10445 for a test of 10560 - 10590 initially and above it till 10690 - 10800 .Similarly Nifty needs to break and sustain / close below 10220 to test 10105 - 10075 initially and below it till 9975 - 9865 ." , today Nifty has triggered our weekly long trade .

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 . Nifty has confirmed our monthly longs and we can see a test  of 10520 - 10575 initially .

Now in the coming session Nifty needs to break and sustain above 10490 to test 10520 - 10530 initially and sustaining above it we can see a further upmove till 10555 - 10585. Similarly breaking and sustaining below 10430 we can see a test of 10395 - 10385 initially and breaking and sustaining below it we can see a further correction till 10360 - 10330.

Nifty Spot Levels for the day are

Long above 10490 for 10510 - 10530 - 10585 , SL 10450

Short below 10430 for 10410 - 10385 - 10330 , SL 10470

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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.