Monday, 4 February 2019

Nifty Spot Outlook for 05th Feb

NIFTY


In the previous session Nifty spot opened at 10876.75 and made a low of 10814.15 ,  it made a high of 10927.90  before closing at 10912.25

Had mentioned that long trade will get triggered for the day on sustaining above 10925 and short trade will get triggered for the day on sustaining below 10860. Nifty triggered our short trade and did 45 points .

For this week Nifty needs to break and sustain / close above 10980 to test 11075 - 11095 initially and above it we can see a test of 11175 - 11260 . Similarly Nifty needs to break and sustain / close below 10805 to test 10715 - 10690 initially and below it we can see a test of 10615 - 10525. Today Nifty took support just above 10805 and bounced back . Now in the coming session it needs to break and sustain above 10980 for a further upmove else we can see it slide down again.

Now Nifty needs to sustain above 10980 in the coming session for a move towards 11075 - 11095 and failing to do so we can see a move back to test 10805.

For the month of February , longs in Nifty will get confirmed with a consecutive close above 11010 for a initial target of 11195 - 11245 and sustaining / closing above it we can see a further test of 11405 - 11580 . Similarly , shorts will get confirmed with a consecutive close below  10655 for a initial target of 10465 - 10420 and sustaining / closing below it we can see a further move till 10260 - 10080 . 

Now in the coming session Nifty needs to break and sustain above 10945 to test 10980 - 10990 initially and sustaining above it we can see a further upmove till 11015 - 11050. Similarly breaking and sustaining below 10880 we can see a test of 10845 - 10835 initially and breaking and sustaining below it we can see a further correction till 10805 - 10775.



Nifty Spot Levels for the day are

Long above 10945 for 10965 - 10990 - 11050 , SL 10920

Short below 10880 for 10860 - 10835 - 10775 , SL 10905


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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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