Sunday, 21 October 2018

Nifty Spot Outlook for 22nd Oct

NIFTY


In the previous session Nifty spot opened at 10339.70 , made a high of 10380.10 ,  made a low of 10249.60,  before closing at 10303.55

Had mentioned that long trade will get triggered for the day on sustaining above 10515 and short trade will get triggered for the day on sustaining below 10390. Nifty triggered our short trade and did 120 points . 

Now in this week Nifty needs to break and sustain / close above 10445 to test 10600 - 10635 initially and above it we can see a test of 10765 - 10910 . Similarly Nifty needs to break and sustain / close below 10160 to test 10010 - 9970 initially and below it we can see a test of 9840 - 9700 .

Also as mentioned " For the month of October ,Nifty longs will get confirmed with a consecutive close above 11085 for a initial target of 11245 - 11290 and sustaining / closing above it we can see a further test of 11425 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10775 for a initial target of 10615 - 10575 and sustaining / closing below it we can see a further move till 10435 - 10285 . " , and Nifty confirmed our monthly shorts and has completed all our short targets  giving 500 points from the short trade and has made a low of 10138.60 till now in . Now in the coming sessions Nifty needs to sustain / close below 10215 for a further move till 10070 - 9970. 

Now in the coming session Nifty needs to break and sustain above 10360 to test 10415 - 10430 initially and sustaining above it we can see a further upmove till 10480 - 10535. Similarly breaking and sustaining below 10250 we can see a test of 10195 - 10180 initially and breaking and sustaining below it we can see a further correction till 10130 - 10075 . 


Nifty Spot Levels for the day are

Long above 10360 for 10390 - 10430 - 10535 , SL 10320

Short below 10250 for 10215 - 10180 - 10075 , SL 10290

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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.