Nifty Spot Outlook for 12th Mar

NIFTY

In the previous session Nifty spot opened at 11068.75 , made a low of 11059.85 , it made a high of 11180.90 before closing at 11168.05

Had mentioned that long trade will get triggered for the day on sustaining above 11060 and short trade will get triggered for the day on sustaining below 11010. Nifty triggered our long trade and did 120 points .   

As mentioned previously :-

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11095 and then enter for a initial target of 11155 - 11175 and look to hold further only on sustaining or getting a close above 11175 for the next targets of 11225 - 11285. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 10975 and then enter for a initial target of 10915 - 10900 and look to hold further only on sustaining or getting a close below 10900 for the next targets of 10845 - 10790. 

And Nifty today triggered our weekly long trade too and completed our initial targets of 11155 - 11175 with a high of 11180.90.

Now Nifty has immediate resistance zone at 11175 - 11240 in the coming session which it needs to break and sustain above for a further upmove towards 11265 - 11360 . 

Nifty has good support near 11095 - 11075 and it needs to hold these for the upmove to resume incase of a correction.

Also as mentioned " For the month of March , longs in Nifty will get confirmed with a consecutive close above 10930 for a initial target of 11075 - 11115 and sustaining / closing above it we can see a further test of 11240 - 11380 . Similarly , shorts will get confirmed with a consecutive close below  10655 for a initial target of 10510 - 10470 and sustaining / closing below it we can see a further move till 10345 - 10205 . " , and Nifty confirmed our monthly longs and has made a high of 11180.90 moving towards our next targets of 11240 - 11380  . 

Now in the coming session Nifty needs to break and sustain above 11195 to test 11220 - 11225 initially and sustaining above it we can see a further upmove till 11250 - 11275. Similarly breaking and sustaining below 11140 we can see a test of 11115 - 11110 initially and breaking and sustaining below it we can see a further correction till 11085 - 11065

Nifty Spot Levels for the day are

Long above 11195 for 11210 - 11225 - 11275 , SL 11175

Short below 11140 for 11125 - 11110 - 11065 , SL 11160

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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.