Nifty Spot Outlook for 21st Jan

NIFTY

In the previous session Nifty spot opened at 10914.85 and made a high of 10928.20 ,  then made a low of 10852.20  before closing at 10906.95

Had mentioned that long trade will get triggered for the day on sustaining above 10930 and short trade will get triggered for the day on sustaining below 10880. Nifty triggered our short trade for the day and completed 2 targets doing 28 points before reversing again .

For this week Nifty needs to break and sustain / close above 10965 to test 11025 - 11045 initially and above it we can see a test of 11095 - 11155 . Similarly Nifty needs to break and sustain / close below 10850 to test 10785 - 10770 initially and below it we can see a test of 10720 - 10660. 

Now in the coming session Nifty has to sustain above 10960 to make a move towards 11000 and unable to do so we can see a test of 10865 initially and sustaining below it a further move towards 10785 - 10770 . 

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 10930 to test 10955 - 10960 initially and sustaining above it we can see a further upmove till 10980 - 11000. Similarly breaking and sustaining below 10885 we can see a test of 10860 - 10855 initially and breaking and sustaining below it we can see a further correction till 10835 - 10815. 

Nifty Spot Levels for the day are

Long above 10930 for 10945 - 10960 - 11000 , SL 10915

Short below 10885 for 10870 - 10855 - 10815 , SL 10900

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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.