Tuesday, 9 April 2019

Nifty Spot Outlook for 09th Apr

NIFTY


In the previous session Nifty spot opened at 11704.35, made a high of 11710.30 , it made a low of 11549.10 before closing at 11604.50

Had mentioned that long trade will get triggered for the day on sustaining above 11695 and short trade will get triggered for the day on sustaining below 11640. Nifty initially triggered our long trade with a gap up and did just 1 target and took our stoploss. It then reversed to trigger our short trade and completed all targets for the day giving 90 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 / closing 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 11630 to test 11655 - 11665 initially and sustaining above it we can see a further upmove till 11685 - 11710. Similarly breaking and sustaining below 11580 we can see a test of 11555 - 11545 initially and breaking and sustaining below it we can see a further correction till 11525 - 11500


Nifty Spot Levels for the day are

Long above 11630 for 11645 - 11665 - 11710 , SL 11610

Short below 11580 for 11565 - 11545 - 11500 , SL 11600

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.

No comments:

Post a Comment