Nifty Spot Outlook for 23rd Apr

NIFTY

Nifty spot opened at 10560.35 , it made a high of 10582.35 , it made a low of 10527.45 ,  before closing at 10564.05

Had mentioned that long positions for the day can be taken above 10575 and short positions can be taken below 10555 . Nifty initially triggered our long trade and took our stoploss . It then triggered our short trade completed all our targets . 

Now this week Nifty needs to break and sustain / close above 10585 for a test of 10610 - 10615 initially and above it till 10635 - 10655 .Similarly Nifty needs to break and sustain / close below 10540 to test 10520 - 10515 initially and below it till 10495 - 10475 .

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 10572 to test 10580 - 10583 initially and sustaining above it we can see a further upmove till 10590 - 10598. Similarly breaking and sustaining below 10556 we can see a test of 10548 - 10545 initially and breaking and sustaining below it we can see a further correction till 10538 - 10530.

Nifty Spot Levels for the day are

Long above 10572 for 10577 - 10583 - 10598 , SL 10561

Short below 10556 for 10551 - 10545 - 10530 , SL 10567

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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.