Friday, 27 April 2018

Nifty Spot Outlook for 27th Apr

NIFTY


Nifty spot opened at 10586.50 , it made a low of 10559.65 , it made a high of 10628.40,  before closing at 10617.80

Had mentioned that long positions for the day can be taken above 10595 and short positions can be taken below 10580 . Nifty initially triggered our short trade and completed 2 targets . It then triggered our long trade and completed all our 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 Nifty triggered our weekly long trade and made a high of 10638.35 this week testing our next targets of 10635 - 10655 .Nifty has not been able to break above 10635 - 10655 zone after coming close to it on a couple of times .

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 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 10625 to test 10635 - 10640 initially and sustaining above it we can see a further upmove till 10650 - 10660. Similarly breaking and sustaining below 10610 we can see a test of 10600 - 10595 initially and breaking and sustaining below it we can see a further correction till 10585 - 10575. Nifty is trading in a narrow range and the target range has narrowed down a lot in the past few sessions and we can see a trending move in the coming session .


Nifty Spot Levels for the day are

Long above 10625 for 10635 - 10640 - 10660 , SL 10615

Short below 10610 for 10600 - 10595 - 10575 , SL 10620

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.