Thursday, 28 February 2019

Nifty Spot Outlook for 01st Mar

NIFTY


In the previous session Nifty spot opened at 10865.70 which was also the high ,  it made a low of 10784.85 before closing at 10792.50

Had mentioned that long trade will get triggered for the day on sustaining above 10835 and short trade will get triggered for the day on sustaining below 10780. Nifty triggered our long trade with a 50 point gap and reversed without giving any trade . 

Had mentioned " For this week Nifty needs to break and sustain / close above 10855 to test 10925 - 10940 initially and above it we can see a test of 10995 - 11060 . Similarly Nifty needs to break and sustain / close below 10725 to test 10660 - 10645 initially and below it we can see a test of 10585 - 10525. " , and Nifty had triggered our weekly long trade and today it completed our initial targets of 10925 - 10940 with a high of 10939.70 giving a good exit to longs . 

For the month of March , longs in Nifty will get confirmed with a consecutive close above 10930 for a initial target of 11075 - 11115 and sustaining / closing above it we can see a further test of 11240 - 11380 . Similarly , shorts will get confirmed with a consecutive close below  10655 for a initial target of 10510 - 10470 and sustaining / closing below it we can see a further move till 10345 - 10205 . 

Now in the coming session Nifty needs to break and sustain above 10820 to test 10845 - 10850 initially and sustaining above it we can see a further upmove till 10875 - 10900. Similarly breaking and sustaining below 10765 we can see a test of 10740 - 10735 initially and breaking and sustaining below it we can see a further correction till 10710 - 10685.

Overall Nifty in the coming sessions needs to now sustain above 10855 to make a move towards 10925 - 10940  . Breaking and sustaining below 10745 we can see a move again till 10660 - 10645 again .



Nifty Spot Levels for the day are

Long above 10820 for 10835 - 10850 - 10900 , SL 10800

Short below 10765 for 10750 - 10735 - 10685 , SL 10785

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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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