Sunday, 24 February 2019

Nifty Spot Outlook for 25th Feb

NIFTY


In the previous session Nifty spot opened at 10782.70 and made a low of 10758.40  ,  it made a high of 10801.55 before closing at 10791.65

Had mentioned that long trade will get triggered for the day on sustaining above 10815 and short trade will get triggered for the day on sustaining below 10765. Nifty triggered our short trade but did not sustain and traded between our short and long trigger levels for the rest of the session. 

For this week Nifty needs to break and sustain / close above 10855 to test 10925 - 10940 initially and above it we can see a test of 10995 - 11060 . Similarly Nifty needs to break and sustain / close below 10725 to test 10660 - 10645 initially and below it we can see a test of 10585 - 10525. 

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 but reversed to take our stoploss as Bank Nifty did not support and the upmove was based on a few index stocks moving up . Nifty then confirmed its monthly short trade early last week but again bounced to take our stoploss .

Now in the coming session Nifty needs to break and sustain above 10815 to test 10840 - 10850 initially and sustaining above it we can see a further upmove till 10870 - 10895. Similarly breaking and sustaining below 10765 we can see a test of 10745 - 10735 initially and breaking and sustaining below it we can see a further correction till 10715 - 10690.

Nifty needs to break and sustain above 10855 to make a move towards 10925 - 10940 . Breaking and sustaining below 10725 we can see a move again till 10660 - 10645 again .



Nifty Spot Levels for the day are

Long above 10815 for 10830 - 10850 - 10895 , SL 10800

Short below 10765 for 10750 - 10735 - 10690 , SL 10785


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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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