Monday, 23 April 2018

Nifty Spot Outlook for 24th Apr

NIFTY


Nifty spot opened at 10592.80 , it made a low of 10514.95 , it made a high of 10638.35 ,  before closing at 10584.70

Had mentioned that long positions for the day can be taken above 10572 and short positions can be taken below 10556 . Nifty made the low in pre-open and post that triggered our long trade and completed all our long targets for the day . Nifty also triggered our weekly long trade and nearly completed all our weekly long targets .  

Had mentioned in the previous post "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 ." , and today Nifty triggered our weekly long trade and made a high of 10638.35 testing our next targets of 10635 - 10655 .

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 10638.35 and also closed above 10575 . Now sustaining above it in the coming session can take us to our next targets for the month.

Now in the coming session Nifty needs to break and sustain above 10593 to test 10600 - 10605 initially and sustaining above it we can see a further upmove till 10610 - 10620. Similarly breaking and sustaining below 10577 we can see a test of 10570 - 10565 initially and breaking and sustaining below it we can see a further correction till 10560 - 10550. The target range has narrowed down a lot in the past few sessions and we should see a trending move soon.


Nifty Spot Levels for the day are

Long above 10593 for 10598 - 10605 - 10620 , SL 10582

Short below 10577 for 10572 - 10565 - 10550 , SL 10587

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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.