Nifty Spot Outlook for 02nd Apr

NIFTY

In the previous session Nifty spot opened at 11665.20 , made a high of 11738.10 , it made a low of 11644.75 before closing at 11669.15

Had mentioned that long trade will get triggered for the day on sustaining above 11655 and short trade will get triggered for the day on sustaining below 11595. Nifty triggered our long trade and nearly completed all targets giving 80 points . 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11705 and then enter for a initial target of 11790 - 11810 and look to hold further only on sustaining or getting a close above 11810 for the next targets of 11880 - 11960. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11545 and then enter for a initial target of 11460 - 11440 and look to hold further only on sustaining or getting a close below 11440 for the next targets of 11370 - 11290. 

Nifty now has strong support at 11460 - 11440 and it needs to hold these levels on a correction this week .   

On the upside Nifty has immediate resistance near 11790 - 11810 . 

For the month of April , longs will get confirmed in Nifty with a consecutive close above 11790 for a initial target of 11960 - 12005 and sustaining / closing above it we can see a further move till 12150 - 12315 .  Similarly shorts will get confirmed with a consecutive close below 11460 for  a initial target of 11290 - 11245 and sustaining / closing below it we can see a further move till 11095 - 10935 .

Now in the coming session Nifty needs to break and sustain above 11700 to test 11730 - 11740 initially and sustaining above it we can see a further upmove till 11765 - 11795. Similarly breaking and sustaining below 11640 we can see a test of 11610 - 11600 initially and breaking and sustaining below it we can see a further correction till 11575 - 11545

Nifty Spot Levels for the day are

Long above 11700 for 11720 - 11740 - 11795 , SL 11675

Short below 11640 for 11620 - 11600 - 11545 , SL 11660

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.