Wednesday, 18 April 2018

Nifty Spot Outlook for 19th April

NIFTY


Nifty spot opened at 10578.90 , it made a high of 10594.20 , it made a low of 10509.70,  before closing at 10526.20

Had mentioned that long positions for the day can be taken above 10570 and short positions can be taken below 10525 . Nifty initially triggered our long trade and nearly completed our 2nd target , Nifty then triggered our short trade and completed just 1 target. 

Had mentioned in the previous posts " Now this week Nifty needs to break and sustain / close above 10560 for a test of 10640 - 10660 initially and above it till 10735 - 10810 .Similarly Nifty needs to break and sustain / close below 10400 to test 10320 - 10300 initially and below it till 10230 - 10150 .", and Nifty has triggered our weekly long trade and now needs to sustain / close above 10560 to confirm the same .

As mentioned previously  " 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 had confirmed our monthly longs above 10315 and has today made a high of 10594.20 completing our initial targets . Now we need to get a close above 10575 for a further upmove this month . Those who are holding longs should have booked once near 10575 today and look to hold only on closing above 10575 in the coming sessions . Those who are looking to go short should keep a strict cbsl of 10575 .

Now in the coming session Nifty needs to break and sustain above 10535 to test 10540 - 10545 initially and sustaining above it we can see a further upmove till 10555 - 10560. Similarly breaking and sustaining below 10520 we can see a test of 10510 - 10505 initially and breaking and sustaining below it we can see a further correction till 10500 - 10490.


Nifty Spot Levels for the day are

Long above 10535 for 10540 - 10545 - 10560 , SL 10525

Short below 10520 for 10515 - 10505 - 10490 , SL 10530

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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.