Tuesday, 26 March 2019

Nifty Spot Outlook for 27th Mar

NIFTY


In the previous session Nifty spot opened at 11375.20 , made a low of 11352.45 , it made a high of 11496.75 before closing at 11483.25

Had mentioned that long trade will get triggered for the day on sustaining above 11380 and short trade will get triggered for the day on sustaining below 11325. Nifty initially triggered our long trade and completed all intraday targets .


For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11520 and then enter for a initial target of 11590 - 11605 and look to hold further only on sustaining or getting a close above 11605 for the next targets of 11665 - 11725. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11390 and then enter for a initial target of 11325 - 11310 and look to hold further only on sustaining or getting a close below 11310 for the next targets of 11250 - 11185. 

As mentioned in the previous Nifty had triggered our weekly short trade and completed our initial targets of 11325 - 11310 with a low of 11311.60. Now it needed to hold the low of 11311.60 else sustaining below it we can see a move towards the next targets. Nifty held the low and bounced back quite well.


As mentioned in the previous posts " Nifty has immediate resistance at 11495 - 11585 zone now where it can take a pause in this upmove , and Nifty made a high of 11572.80 and revered by around 125+ points.

Nifty has immediate support near 11325 - 11310 and it needs to hold these incase of a correction for the upmove to resume and breaking and sustaining below it we can see a further correction towards 11250 - 11190. Nifty held 11310 and bounced back to close at 11483.25 . 

Nifty has small resistance at 11520 now and it needs to sustain or close above it to make a move towards 11585 again .


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 11572.80 completing our next targets of 11240 - 11380 and also exceeded it by 180+ points . 

Now in the coming session Nifty needs to break and sustain above 11510 to test 11540 - 11545 initially and sustaining above it we can see a further upmove till 11570 - 11595. Similarly breaking and sustaining below 11455 we can see a test of 11430 - 11425 initially and breaking and sustaining below it we can see a further correction till 11400 - 11370


Nifty Spot Levels for the day are

Long above 11510 for 11525 - 11545 - 11595 , SL 11490

Short below 11455 for 11440 - 11425 - 11370 , SL 11475

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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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