Sunday, 10 February 2019

Nifty Spot Outlook for 11th Feb

NIFTY


In the previous session Nifty spot opened at 11023.50 and made a high of 11041.20 ,  it made a low of 10925.45  before closing at 10943.60

Had mentioned that long trade will get triggered for the day on sustaining above 11100 and short trade will get triggered for the day on sustaining below 11040. Nifty triggered our short trade and did 100+ points .

For this week Nifty needs to break and sustain / close above 11030 to test 11115 - 11135 initially and above it we can see a test of 11215 - 11295 . Similarly Nifty needs to break and sustain / close below 10860 to test 10775 - 10750 initially and below it we can see a test of 10675 - 10590.

Now Nifty needs to hold 10885 - 10835 range on the downside in the coming session to expect a pullback again .

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 . Nifty had given a consecutive close above  11010 confirming our monthly long trade for a initial target of 11195 - 11245 . But as mentioned in the previous post too Bank Nifty has so far not even given a single close above its monthly long confirmation level and if it does not give a confirmation then Nifty will find it difficult to keep moving up. Those who are long should keep a strict cbsl of 10885 for the coming session.

Now in the coming session Nifty needs to break and sustain above 10975 to test 11010 - 11015 initially and sustaining above it we can see a further upmove till 11045 - 11075. Similarly breaking and sustaining below 10910 we can see a test of 10880 - 10870 initially and breaking and sustaining below it we can see a further correction till 10840 - 10810.



Nifty Spot Levels for the day are

Long above 10975 for 10995 - 11015 - 11075 , SL 10950

Short below 10910 for 10895 - 10870 - 10810 , SL 10935


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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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