Nifty Spot Outlook for 18th Mar

NIFTY

In the previous session Nifty spot opened at 11376.85, made a low of 11370.80 , it made a high of 11487 before closing at 11426.85

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 11320. Nifty triggered our long trade and completed all our targets and also exceeded it by 50 points.

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11485 and then enter for a initial target of 11550 - 11565 and look to hold further only on sustaining or getting a close above 11565 for the next targets of 11615 - 11675. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11365 and then enter for a initial target of 11305 - 11290 and look to hold further only on sustaining or getting a close below 10900 for the next targets of 11235 - 11175. 

Nifty has immediate resistance at 11495 - 11585 zone now where it can take a pause in this upmove .

Nifty has immediate support near 11170 - 11050 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 11487 completing our next targets of 11240 - 11380 and also exceeded it by 100 points . 

Now in the coming session Nifty needs to break and sustain above 11450 to test 11475 - 11480 initially and sustaining above it we can see a further upmove till 11500 - 11520. Similarly breaking and sustaining below 11405 we can see a test of 11380 - 11375 initially and breaking and sustaining below it we can see a further correction till 11355 - 11330

Nifty Spot Levels for the day are

Long above 11450 for 11465 - 11480 - 11520 , SL 11430

Short below 11405 for 11390 - 11375 - 11330 , SL 11425

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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.