Nifty Spot Outlook for 15th Jan

NIFTY

In the previous session Nifty spot opened at 10807 and made a high of 10808 ,  then made a low of 10692.35  before closing at 10737.60

Had mentioned that long trade will get triggered for the day on sustaining above 10820 and short trade will get triggered for the day on sustaining below 10770. Nifty triggered our short trade for the day and did 75 points . 

As mentioned " For this week Nifty needs to break and sustain / close above 10865 to test 10935 - 10955 initially and above it we can see a test of 11015 - 11085 . Similarly Nifty needs to break and sustain / close below 10725 to test 10655 - 10635 initially and below it we can see a test of 10575 - 10505. " , and Nifty triggered our weekly short trade intraday but closed above it . Now in the coming session Nifty has to sustain below 10725 to test 10655 - 10635 and breaking and sustaining / closing above 10775 we can see a move towards our weekly long trigger. 

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 10765 to test 10790 - 10795 initially and sustaining above it we can see a further upmove till 10820 - 10845. Similarly breaking and sustaining below 10710 we can see a test of 10685 - 10680 initially and breaking and sustaining below it we can see a further correction till 10655 - 10630. 

Nifty Spot Levels for the day are

Long above 10765 for 10780 - 10795 - 10845 , SL 10745

Short below 10710 for 10695 - 10680 - 10630 , SL 10730

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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.