Nifty Spot Outlook for 16th Jan

NIFTY

In the previous session Nifty spot opened at 10777.55 which was also the low for the day ,  then made a high of 10896.95  before closing at 10886.80

Had mentioned that long trade will get triggered for the day on sustaining above 10765 and short trade will get triggered for the day on sustaining below 10710. Nifty triggered our long trade for the day and did 130 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 long trade today and we should see a test of 10935 - 10955 in the coming sessions initially. Those who are long should keep a cbsl of 10815 now and look to trail their cbsl to 10885 once it nears 10935 - 10955 or book once .  

Had mentioned in the previous post " 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. " , and today opened above 10775 and stayed above it to give a 120 points move. 

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 10915 to test 10945 - 10955 initially and sustaining above it we can see a further upmove till 10980 - 11010. Similarly breaking and sustaining below 10855 we can see a test of 10830 - 10820 initially and breaking and sustaining below it we can see a further correction till 10795 - 10765. 

Nifty Spot Levels for the day are

Long above 10915 for 10935 - 10955 - 11010 , SL 10895

Short below 10855 for 10840 - 10820 - 10765 , SL 10880

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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.