Tuesday, 19 February 2019

Nifty Spot Outlook for 19th Feb

NIFTY


In the previous session Nifty spot opened at 10738.65 and made a high of 10759.90  ,  it made a low of 10628.40 before closing at 10640.95

Had mentioned that long trade will get triggered for the day on sustaining above 10750 and short trade will get triggered for the day on sustaining below 10700. Nifty triggered our long trade at opening but could not sustain and took our stoploss. It then triggered our short trade and did 70 points .

Had mentioned " 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. " , and Nifty triggered our short trade today and now sustaining below 10660 in the coming sessions it can test 10590 - 10575 initially. Those who are short should a keep a cbsl of 10705 now. 

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 . Today Nifty has given its first close below 10655 and it needs to give a consecutive close in the coming session for monthly short trade  to get activated.

Now in the coming session Nifty needs to break and sustain above 10665 to test 10695 - 10700 initially and sustaining above it we can see a further upmove till 10720 - 10745. Similarly breaking and sustaining below 10615 we can see a test of 10590 - 10585 initially and breaking and sustaining below it we can see a further correction till 10560 - 10535.

Nifty needs to hold above 10655 on closing basis for a bounce towards 10860 - 10875 initially in the coming sessions.Sustaining below 10655 we can a move towards 10590 - 10575 initially and below it towards 10465 - 10420 next.



Nifty Spot Levels for the day are

Long above 10665 for 10680 - 10700 - 10745 , SL 10645

Short below 10615 for 10600 - 10585 - 10535 , SL 10635


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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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