Sunday, 23 September 2018

Nifty Spot Outlook for 24th Sep

NIFTY


In the previous session Nifty spot opened at 11271.30 . made a high of 11346.80 ,then made a low of 10866.45 ,  before closing at 11143.10

Had mentioned that long trade will get triggered for the day on sustaining above 11275 and short trade will get triggered for the day on sustaining below 11195. Nifty triggered our long trade initially and completed 2 targets then took our TSL . Nifty then triggered the short trade and completed all targets and exceeded it by further 200 points due to panic selling in the market .

In this week Nifty needs to break and sustain / close above 11245 to test 11355 - 11385 initially and above it we can see a test of 11475 - 11580 . Similarly Nifty needs to break and sustain / close below 11040 to test 10930 - 10905 initially and below it we can see a test of 10810 - 10710 . 

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 10866.45 completing all short targets . Nifty exceeded the short targets by another 350 points on the back of panic selling witnessed among many stocks from the financial sectors . 

Now in the coming session Nifty needs to break and sustain above 11185 to test 11225 - 11235 initially and sustaining above it we can see a further upmove till 11270 - 11310. Similarly breaking and sustaining below 11105 we can see a test of 11065 - 11055 initially and breaking and sustaining below it we can see a further correction till 11015 - 10980 . 


Nifty Spot Levels for the day are

Long above 11185 for 11205 - 11235 - 11310 , SL 11155

Short below 11105 for 11080 - 11055 - 10980 , SL 11130

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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.