Monday, 15 April 2019

Nifty Spot Outlook for 16th Apr

NIFTY


In the previous session Nifty spot opened at 11667.00, made a low of 11648.25 , it made a high of 11704.60 before closing at 11690.35

Had mentioned that long trade will get triggered for the day on sustaining above 11665 and short trade will get triggered for the day on sustaining below 11620. Nifty triggered our long trade and completed 2 targets giving 30+ 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 11765 - 11785 and look to hold further only on sustaining or getting a close above 11785 for the next targets of 11840 - 11900. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11580 and then enter for a initial target of 11520 - 11505 and look to hold further only on sustaining or getting a close below 11505 for the next targets of 11450 - 11390. 


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 . 

Currently Nifty is in a trading range of 11525 - 11790 and it needs break beyond this range strongly for a bigger move.

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 11715 to test 11735 - 11745 initially and sustaining above it we can see a further upmove till 11765 - 11790. Similarly breaking and sustaining below 11665 we can see a test of 11645 - 11635 initially and breaking and sustaining below it we can see a further correction till 11615 - 11595


Nifty Spot Levels for the day are

Long above 11715 for 11725 - 11745 - 11790 , SL 11695

Short below 11665 for 11655 - 11635 - 11595 , SL 11685

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