Nifty Spot Outlook for 08th Apr

NIFTY

In the previous session Nifty spot opened at 11638.40, made a low of 11609.50 , it made a high of 11689.65 before closing at 11665.95

Had mentioned that long trade will get triggered for the day on sustaining above 11630 and short trade will get triggered for the day on sustaining below 11565. Nifty triggered our long trade and did 2 targets giving 50 points .

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11735 and then enter for a initial target of 11810 - 11830 and look to hold further only on sustaining or getting a close above 11830 for the next targets of 11890 - 11960. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11595 and then enter for a initial target of 11525 - 11505 and look to hold further only on sustaining or getting a close below 11505 for the next targets of 11440 - 11375. 

In the coming session Nifty needs to hold 11595 to expect a bounce else sustaining below it we can see a move till 11525 - 11505.

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 11695 to test 11720 - 11725 initially and sustaining above it we can see a further upmove till 11750 - 11775. Similarly breaking and sustaining below 11640 we can see a test of 11615 - 11605 initially and breaking and sustaining below it we can see a further correction till 11580 - 11555

Nifty Spot Levels for the day are

Long above 11695 for 11710 - 11725 - 11775 , SL 11675

Short below 11640 for 11625 - 11605 - 11555 , 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.