Thursday, 14 February 2019

Nifty Spot Outlook for 15th Feb

NIFTY


In the previous session Nifty spot opened at 10786.10 and made a high of 10792.70  ,  it made a low of 10718.75 before closing at 10746.05

Had mentioned that long trade will get triggered for the day on sustaining above 10820 and short trade will get triggered for the day on sustaining below 10765. Nifty triggered our short trade and did just 45 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. Those who are short should keep a stoploss of 10920 and look to exit once near 10775 - 10750 ." , and today Nifty made low of 10718.75 staying below 10750 . 

Now in the coming session Nifty needs to break and sustain below 10750 for a further down move till 10675 - 10590 . Holding 10750 we can see a small bounce back till 10860 - 10890 again . Nifty has strong support near 10675 - 10655 overall and if it holds it then one should book shorts and look to go long with a cbsl of 10625 

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 10770 to test 10800 - 10805 initially and sustaining above it we can see a further upmove till 10825 - 10855. Similarly breaking and sustaining below 10720 we can see a test of 10695 - 10685 initially and breaking and sustaining below it we can see a further correction till 10665 - 10640.



Nifty Spot Levels for the day are

Long above 10770 for 10785 - 10805 - 10855 , SL 10755

Short below 10720 for 10705 - 10685 - 10640 , SL 10740


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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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