Sunday, 17 February 2019

Nifty Spot Outlook for 18th Feb

NIFTY


In the previous session Nifty spot opened at 10780.25 and made a high of 10785.75  ,  it made a low of 10620.40 before closing at 10724.40

Had mentioned that long trade will get triggered for the day on sustaining above 10770 and short trade will get triggered for the day on sustaining below 10720. Nifty triggered our short trade and did 100 points .

For this week Nifty needs to break and sustain / close above 10790 to test 10860 - 10875 initially and above it we can see a test of 10935 - 11000 . Similarly Nifty needs to break and sustain / close below 10660 to test 10590 - 10575 initially and below it we can see a test of 10515 - 10450. 

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 10750 to test 10775 - 10785 initially and sustaining above it we can see a further upmove till 10805 - 10830. Similarly breaking and sustaining below 10700 we can see a test of 10675 - 10665 initially and breaking and sustaining below it we can see a further correction till 10645 - 10620.

Nifty needs to hold above 10655 on closing basis for a bounce towards 10860 - 10875 initially in the coming sessions.



Nifty Spot Levels for the day are

Long above 10750 for 10765 - 10785 - 10830 , SL 10730

Short below 10700 for 10685 - 10665 - 10620 , SL 10720


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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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