Tuesday, 20 November 2018

Nifty Spot Outlook for 21st Nov

NIFTY


In the previous session Nifty spot opened at 10740.10, made a high of 10740.85 ,  made a low of 10640.85,  before closing at 10656.20

Had mentioned that long trade will get triggered for the day on sustaining above 10785 and short trade will get triggered for the day on sustaining below 10740. Nifty triggered our short trade and did 100 points. 

As mentioned " Now in this week Nifty needs to break and sustain / close above 10745 to test 10805 - 10820 initially and above it we can see a test of 10875 - 10935 . Similarly Nifty needs to break and sustain / close below 10620 to test 10560 - 10545 initially and below it we can see a test of 10490 - 10430 .", and today Nifty took our stoploss for longs after doing our initial 3 long targets in the previous session. Now in the coming session it needs to sustain below 10620 for the downmove to continue. 

Also as mentioned "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 . ", and Nifty did 100 points above 10660 and has now closed below it too.

Now in the coming session Nifty needs to break and sustain above 10685 to test 10715 - 10720 initially and sustaining above it we can see a further upmove till 10745 - 10775. Similarly breaking and sustaining below 10625 we can see a test of 10600 - 10590 initially and breaking and sustaining below it we can see a further correction till 10565 - 10535 .


Nifty Spot Levels for the day are

Long above 10685 for 10700 - 10720 - 10775 , SL 10665

Short below 10625 for 10610 - 10590 - 10535 , SL 10645

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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.