Tuesday, 12 February 2019

Nifty Spot Outlook for 13th Feb

NIFTY


In the previous session Nifty spot opened at 10879.90 and made a high of 10910.90  ,  it made a low of 10823.80  before closing at 10831.40

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 10855. Nifty triggered our short trade and did just 30 points .

Had mentioned " 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." , and today Nifty triggered our weekly short trade . Those who are short should keep a stoploss of 10920 and look to exit once near 10775 - 10750 .

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 closed marginally below 10835 and sustaining above it in the coming session can see a bounce till 10885 - 10915 . 

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 and reversed to take our stoploss as Bank Nifty did not support and the upmove was based on a few index stocks moving up . 

Now in the coming session Nifty needs to break and sustain above 10865 to test 10900 - 10910 initially and sustaining above it we can see a further upmove till 10940 - 10975. Similarly breaking and sustaining below 10795 we can see a test of 10760 - 10750 initially and breaking and sustaining below it we can see a further correction till 10720 - 10685.



Nifty Spot Levels for the day are

Long above 10865 for 10885 - 10910 - 10975 , SL 10840

Short below 10795 for 10775 - 10750 - 10685 , SL 10820


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

No comments:

Post a Comment