Monday, 11 February 2019

Nifty Spot Outlook for 12th Feb

NIFTY


In the previous session Nifty spot opened at 10930.90 which was also the high  ,  it made a low of 10857.10  before closing at 10888.80

Had mentioned that long trade will get triggered for the day on sustaining above 10975 and short trade will get triggered for the day on sustaining below 10910. Nifty triggered our short trade and did 50+ 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.

Had mentioned in the previous post "Now Nifty needs to hold 10885 - 10835 range on the downside in the coming session to expect a pullback again ." , and today Nifty has held it and also managed to close just above 10885. Hold 10835 in the coming session is required for a bounce. 

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 10925 to test 10955 - 10965 initially and sustaining above it we can see a further upmove till 10995 - 11025. Similarly breaking and sustaining below 10855 we can see a test of 10825 - 10815 initially and breaking and sustaining below it we can see a further correction till 10785 - 10750.



Nifty Spot Levels for the day are

Long above 10925 for 10945 - 10965 - 11025 , SL 10900

Short below 10855 for 10835 - 10815 - 10750 , SL 10880


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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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