Monday, 18 March 2019

Nifty Spot Outlook for 19th Mar

NIFTY


In the previous session Nifty spot opened at 11473.85, made a high of 11530.15 , it made a low of 11412.50 before closing at 11462.20

Had mentioned that long trade will get triggered for the day on sustaining above 11450 and short trade will get triggered for the day on sustaining below 11405. Nifty triggered our long trade with a gap up and completed all our targets .


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 11485 to test 11505 - 11510 initially and sustaining above it we can see a further upmove till 11530 - 11550. Similarly breaking and sustaining below 11440 we can see a test of 11420 - 11415 initially and breaking and sustaining below it we can see a further correction till 11395 - 11375


Nifty Spot Levels for the day are

Long above 11485 for 11495 - 11510 - 11550 , SL 11465

Short below 11440 for 11430 - 11415 - 11375 , SL 11460

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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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