Tuesday, 12 March 2019

Nifty Spot Outlook for 13th Mar

NIFTY


In the previous session Nifty spot opened at 11231.35 , made a low of 11227.00 , it made a high of 11320.40 before closing at 11301.20

Had mentioned that long trade will get triggered for the day on sustaining above 11195 and short trade will get triggered for the day on sustaining below 11140. Nifty triggered our long trade with a gap up and did 90 points from there.   

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 had triggered our weekly long trade and today completed all our weekly long targets with a high of 11320.40. 

Today Nifty sustained above the immediate resistance zone of 11175 - 11240 mentioned in the previous post and moved towards our expected targets of 11265 - 11360 with a high of 11320.40. 

Nifty has immediate resistance at 10360 - 11430 zone now where it can take a pause in this upmove .

Nifty has immediate support near 11155 - 11175 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 had confirmed our monthly longs and has made a high of 11320.40 reaching our next targets of 11240 - 11380  . 

Now in the coming session Nifty needs to break and sustain above 11325 to test 11355 - 11360 initially and sustaining above it we can see a further upmove till 11385 - 11410. Similarly breaking and sustaining below 11275 we can see a test of 11250 - 11245 initially and breaking and sustaining below it we can see a further correction till 11220 - 11195


Nifty Spot Levels for the day are

Long above 11325 for 11340 - 11360 - 11410 , SL 11305

Short below 11275 for 11260 - 11245 - 11195 , SL 11295

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

No comments:

Post a Comment