Nifty Spot Outlook for 13th Nov

NIFTY

In the previous session Nifty spot opened at 10607.80, made a high of 10645.50 ,  made a low of 10464.05,  before closing at 10482.20

Had mentioned that long trade will get triggered for the day on sustaining above 10625 and short trade will get triggered for the day on sustaining below 10545. Nifty initially triggered our long trade and nearly did one target. It then triggered our short trade and  did 80 points.

Had mentioned " Now in this week Nifty needs to break and sustain / close above 10690 to test 10800 - 10825 initially and above it we can see a test of 10920 - 11025 . Similarly Nifty needs to break and sustain / close below 10480 to test 10375 - 10345 initially and below it we can see a test of 10250 - 10150 ." , and Nifty has given a close just above our confirmation level for short and sustaining below 10480 in the coming session we should see a move till 10375 - 10345 initially.

For the month of November , further longs will get confirmed with a consecutive close above 10660 for a initial target of 10945 - 11020 and sustaining / closing above it we can see a further test of 11265 - 11535 . Similarly , shorts will get confirmed with a consecutive close below  10115 for a initial target of 9830 - 9755 and sustaining / closing below it we can see a further move till 9510 - 9235 . 

Now in the coming session Nifty needs to break and sustain above 10520 to test 10555 - 10565 initially and sustaining above it we can see a further upmove till 10600 - 10635. Similarly breaking and sustaining below 10445 we can see a test of 10410 - 10400 initially and breaking and sustaining below it we can see a further correction till 10365 - 10330 .

Nifty Spot Levels for the day are

Long above 10520 for 10540 - 10565 - 10635 , SL 10490

Short below 10445 for 10425 - 10400 - 10330 , SL 10475

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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.