Wednesday, 14 November 2018

Nifty Spot Outlook for 15th Nov

NIFTY


In the previous session Nifty spot opened at 10634.90, made a high of 10651.60 ,  made a low of 10532.70,  before closing at 10576.30

Had mentioned that long trade will get triggered for the day on sustaining above 10620 and short trade will get triggered for the day on sustaining below 10545. Nifty initially triggered our long trade and did 1 target and took our TSL . It then triggered our short trade but immediately reversed taking our stoploss . So overall a rough day with stoploss being taken out on both sides . 

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 did 2 targets on the short side then took our TSL . Now in the coming sessions it has to sustain above 10650 to trigger our weekly longs and failing to do so will keep getting sellers back.

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 10605 to test 10635 - 10645 initially and sustaining above it we can see a further upmove till 10670 - 10700. Similarly breaking and sustaining below 10545 we can see a test of 10515 - 10505 initially and breaking and sustaining below it we can see a further correction till 10480 - 10455 .


Nifty Spot Levels for the day are

Long above 10605 for 10625 - 10645 - 10700 , SL 10585

Short below 10545 for 10525 - 10510 - 10455 , SL 10570

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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.