Wednesday, 9 January 2019

Nifty Spot Outlook for 10th Jan

NIFTY


In the previous session Nifty spot opened at 10862.40 made a high of 10870.40 ,  made a low of 10749.40  before closing at 10855.15

Had mentioned that long trade will get triggered for the day on sustaining above 10830 and short trade will get triggered for the day on sustaining below 10775. Nifty initially triggered our long trade for the day and did 2 targets . It then triggered our short trade and completed 1 target . And once again it triggered our long trade and did 2 targets . Nifty swung both ways multiple times today indicating indecisiveness . 

As mentioned earlier " For this week Nifty needs to break and sustain / close above 10805 to test 10890 - 10910 initially and above it we can see a test of 10985 - 11060 . Similarly Nifty needs to break and sustain / close below 10650 to test 10565 - 10545 initially and below it we can see a test of 10475 - 10395. " , and Nifty triggered our weekly long trade and we saw a high of 10870.40 near our initial target of 10890 - 10910. Those who are holding long should trail their cbsl to 10805 now from 10750.

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 10885 to test 10910 - 10920 initially and sustaining above it we can see a further upmove till 10945 - 10970. Similarly breaking and sustaining below 10825 we can see a test of 10800 - 10790 initially and breaking and sustaining below it we can see a further correction till 10765 - 10740. 


Nifty Spot Levels for the day are

Long above 10885 for 10900 - 10920 - 10970 , SL 10860

Short below 10825 for 10810 - 10790 - 10740 , SL 10850

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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.