Thursday, 20 September 2018

Nifty Spot Outlook for 21st Sep

NIFTY


In the previous session Nifty spot opened at 11326.65 . made a high of 11332.05 ,then made a low of 11210.90 ,  before closing at 11234.35

Had mentioned that long trade will get triggered for the day on sustaining above 11320 and short trade will get triggered for the day on sustaining below 11235. Nifty triggered our long trade initially and did not sustain and then triggered our short trade but did only 1 target . Nifty mostly traded between our long and short trigger zone for most part of the session. We can expect a trending move in the next 2 sessions.

As mentioned " In this week Nifty needs to break and sustain / close above 11620 to test 11725 - 11755 initially and above it we can see a test of 11850 - 11950 . Similarly Nifty needs to break and sustain / close below 11410 to test 11305 - 11275 initially and below it we can see a test of 11185 - 11080 ." , and Nifty had triggered our weekly short trade in the previous session and today made a low of 11210.90 making a move towards our last weekly short targets of 11185 - 11080 .  Now in the coming session Nifty needs to sustain below 11205 for the next targets till 11185 - 11080 and sustaining above 11275 we might see a bounce back till 11350 - 11380 levels initially . Those who are holding shorts should keep a trailing stoploss of 11275 now and look to book on any further dip till 11185  .

As mentioned " For the month of September ,Nifty longs will get confirmed with a consecutive close above 11795 for a initial target of 11915 - 11940 and sustaining / closing above it we can see a further test of 12045 - 12155 . Similarly , shorts will get confirmed with a consecutive close below  11565 for a initial target of 11450 - 11420 and sustaining / closing below it we can see a further move till 11320 - 11205 . " , and Nifty had triggered our monthly shorts below 11565 and made a low of 11210.90 completing our last targets of 11320 - 11205 giving us 340 points from the monthly short trade . Now in the coming session Nifty needs to sustain / close below 11205 for a move till 11185 - 11080 and sustaining / closing above 11275 we can see a move till 11350 - 11380. 

Now in the coming session Nifty needs to break and sustain above 11275 to test 11320 - 11330 initially and sustaining above it we can see a further upmove till 11365 - 11405. Similarly breaking and sustaining below 11195 we can see a test of 11150 - 11140 initially and breaking and sustaining below it we can see a further correction till 11105 - 11065 . 


Nifty Spot Levels for the day are

Long above 11275 for 11300 - 11330 - 11405 , SL 11245

Short below 11195 for 11170 - 11140 - 11065 , SL 11225

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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.