Thursday, 14 March 2019

Nifty Spot Outlook for 15th Mar

NIFTY


In the previous session Nifty spot opened at 11382.50, made a high of 11383.45 , it made a low of 11313.75 before closing at 11343.25

Had mentioned that long trade will get triggered for the day on sustaining above 11365 and short trade will get triggered for the day on sustaining below 11315. Nifty opened near our 1st long target with a gap up and reversed as it could not sustain. It then triggered our short trade and again could not sustain indicating indecisiveness .   

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 had completed all our weekly long targets and today made a further high of 11383.45. 

Nifty sustained above the immediate resistance zone of 11175 - 11240 mentioned in the previous post and today completed our expected targets of 11265 - 11360 with a high of 11383.45 . 

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 11383.45 completing our next targets of 11240 - 11380  . 

Now in the coming session Nifty needs to break and sustain above 11365 to test 11390 - 11395 initially and sustaining above it we can see a further upmove till 11415 - 11435. Similarly breaking and sustaining below 11320 we can see a test of 11295 - 11290 initially and breaking and sustaining below it we can see a further correction till 11275 - 11250


Nifty Spot Levels for the day are

Long above 11365 for 11380 - 11395 - 11435 , SL 11350

Short below 11320 for 11305 - 11290 - 11250 , SL 11335

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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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