Nifty Spot Outlook for 31st Jan

NIFTY

In the previous session Nifty spot opened at 10820.95 made a low of 10817.15 ,  made a high of 10893.60  before closing at 10859.90

Had mentioned that long trade will get triggered for the day on sustaining above 10815 and short trade will get triggered for the day on sustaining below 10745. Nifty triggered our long trade and did 75 points. 

For this week Nifty needs to break and sustain / close above 10950 to test 11045 - 11070 initially and above it we can see a test of 11150 - 11240 . Similarly Nifty needs to break and sustain / close below 10770 to test 10675 - 10650 initially and below it we can see a test of 10570 - 10480. 

For the month of January , longs in Nifty will get confirmed with a consecutive close above 10960 for a initial target of 11145 - 11195 and sustaining / closing above it we can see a further test of 11355 - 11530 . Similarly , shorts will get confirmed with a consecutive close below  10600 for a initial target of 10415 - 10370 and sustaining / closing below it we can see a further move till 10205 - 10030 . 

Now in the coming session Nifty needs to break and sustain above 10895 to test 10930 - 10940 initially and sustaining above it we can see a further upmove till 10970 - 11005. Similarly breaking and sustaining below 10825 we can see a test of 10790 - 10780 initially and breaking and sustaining below it we can see a further correction till 10750 - 10715 . 

Nifty Spot Levels for the day are

Long above 10895 for 10915 - 10940 - 11005 , SL 10870

Short below 10825 for 10805 - 10780 - 10715 , SL 10850

This is the last post on Nifty for this year and i would like to thank all the readers for their support towards the blog and i wish everyone a very happy , safe and prosperous new year 2019.

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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.