Thursday, 10 January 2019

Nifty Spot Outlook for 11th Jan

NIFTY


In the previous session Nifty spot opened at 10859.35 which was also the high ,  made a low of 10801.80  before closing at 10821.60

Had mentioned that long trade will get triggered for the day on sustaining above 10885 and short trade will get triggered for the day on sustaining below 10825. Nifty initially triggered our short trade for the day and did just 25 points . 

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 had triggered our weekly long trade and we saw a high of 10870.40 near our initial target of 10890 - 10910. Today for longs it held our trailing cbsl of 10805 .

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 10850 to test 10875 - 10880 initially and sustaining above it we can see a further upmove till 10905 - 10930. Similarly breaking and sustaining below 10795 we can see a test of 10765 - 10760 initially and breaking and sustaining below it we can see a further correction till 10740 - 10715. 


Nifty Spot Levels for the day are

Long above 10850 for 10865 - 10880 - 10930 , SL 10830

Short below 10795 for 10780 - 10760 - 10715 , SL 10815

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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.