Sunday, 29 April 2018

Nifty Spot Outlook for 30th Apr

NIFTY


Nifty spot opened at 10651.65 , it made a low of 10647.55 , it made a high of 10719.80,  before closing at 10692.30

Had mentioned that long positions for the day can be taken above 10625 and short positions can be taken below 10610 . Nifty triggered our long trade by opening above our 2nd target and exceeded our daily target by 60 points and also completed all our weekly long targets too . 

Now this week Nifty needs to sustain / close above 10725 for a test of 10755 - 10765 initially and above it till 10790 - 10820 .Similarly Nifty needs to sustain / close below 10660 to test 10630 - 10620 initially and below it till 10595 - 10565 . Last week Nifty triggered our long trade and completed all our targets .

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 now has made a high of 10719.80 near our next targets of 10750 - 10950 giving 400 points . 

Now in the coming session Nifty needs to break and sustain above 10705 to test 10715 - 10720 initially and sustaining above it we can see a further upmove till 10730 - 10740. Similarly breaking and sustaining below 10680 we can see a test of 10670 - 10665 initially and breaking and sustaining below it we can see a further correction till 10655 - 10645. Nifty finally gave a bigger move which we were expecting after the narrow range move. 


Nifty Spot Levels for the day are

Long above 10705 for 10710 - 10720 - 10740 , SL 10690

Short below 10680 for 10675 - 10665 - 10645 , SL 10695

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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.