Sunday, 3 February 2019

Nifty Spot Outlook for 04th Feb

NIFTY


In the previous session Nifty spot opened at 10851.35 and made a low of 10813.45 ,  it made a high of 10983.45  before closing at 10893.65

Had mentioned that long trade will get triggered for the day on sustaining above 10865 and short trade will get triggered for the day on sustaining below 10800. Nifty triggered our long trade and did 100 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. 

Now Nifty needs to sustain above 10805 in the coming session for a move towards 10950 - 10980 and breaking below 10805 we can a correction till 10715 - 10690 .

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 10925 to test 10960 - 10970 initially and sustaining above it we can see a further upmove till 11000 - 11035. Similarly breaking and sustaining below 10860 we can see a test of 10825 - 10815 initially and breaking and sustaining below it we can see a further correction till 10785 - 10755.



Nifty Spot Levels for the day are

Long above 10925 for 10945 - 10970 - 11035 , SL 10900

Short below 10860 for 10840 - 10815 - 10755 , SL 10885


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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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