Monday, 21 January 2019

Nifty Spot Outlook for 22nd Jan

NIFTY


In the previous session Nifty spot opened at 10919.35 and made a low of 10885.75 ,  then made a high of 10987.45  before closing at 10961.85

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 10885. Nifty triggered our long trade for the day and did 55 points .

As mentioned " 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." , and Nifty gave a borderline close below our confirmation level of 10965 and sustaining above it in the coming session we can see a test of 11025 - 11045 initially. 

Also as mentioned " 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 . " , and Nifty needs to sustain  above 10960 in the coming session to test our initial targets of 11145 - 11195 .

Now in the coming session Nifty needs to break and sustain above 10985 to test 11010 - 11015 initially and sustaining above it we can see a further upmove till 11035 - 11055. Similarly breaking and sustaining below 10940 we can see a test of 10915 - 10910 initially and breaking and sustaining below it we can see a further correction till 10890 - 10865. 


Nifty Spot Levels for the day are

Long above 10985 for 11000 - 11015 - 11055 , SL 10970

Short below 10940 for 10925 - 10910 - 10865 , SL 10955

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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.

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