Wednesday, 21 November 2018

Nifty Spot Outlook for 22nd Nov

NIFTY


In the previous session Nifty spot opened at 10670.95, made a high of 10671.30 ,  made a low of 10562.35,  before closing at 10600.05

Had mentioned that long trade will get triggered for the day on sustaining above 10685 and short trade will get triggered for the day on sustaining below 10625. Nifty triggered our short trade and did 60 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. Today Nifty triggered our weekly short trade and did 3 targets on the downside. Those who are holding shorts should keep a stoploss of 10665 spot . 

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 10630 to test 10665 - 10675 initially and sustaining above it we can see a further upmove till 10690 - 10720. Similarly breaking and sustaining below 10570 we can see a test of 10545 - 10535 initially and breaking and sustaining below it we can see a further correction till 10510 - 10485 .


Nifty Spot Levels for the day are

Long above 10630 for 10645 - 10665 - 10720 , SL 10605

Short below 10570 for 10555 - 10535 - 10485 , SL 10595

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.