Tuesday 22 January 2019

Nifty Spot Outlook for 23rd Jan

NIFTY


In the previous session Nifty spot opened at 10949.80 which was also the high ,  then made a low of 10864.15  before closing at 10922.75

Had mentioned that long trade will get triggered for the day on sustaining above 10985 and short trade will get triggered for the day on sustaining below 10940. Nifty triggered our short trade for the day and completed all targets and gave 75 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 today Nifty corrected till 10864.15 and took  support near 10850 below which our weekly shorts would have got confirmed and bounced back. Nifty needs to give a strong move beyond the range of 10850 - 10965 for a directional move which we should get to see in the coming sessions . 

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 10945 to test 10970 - 10975 initially and sustaining above it we can see a further upmove till 10995 - 11020. Similarly breaking and sustaining below 10900 we can see a test of 10875 - 10870 initially and breaking and sustaining below it we can see a further correction till 10850 - 10825. 


Nifty Spot Levels for the day are

Long above 10945 for 10960 - 10975 - 11020 , SL 10930

Short below 10900 for 10885 - 10870 - 10825 , SL 10915

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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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