Nifty Spot Outlook for 18th Apr

NIFTY

In the previous session Nifty spot opened at 11736.20, made a low of 11731.55 , it made a new life time high of 11810.95 before closing at 11787.15

Had mentioned that long trade will get triggered for the day on sustaining above 11715 and short trade will get triggered for the day on sustaining below 11665. Nifty triggered our long trade and completed all targets giving 75+ 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. 

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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 triggered our weekly long trade and completed our initial targets. Now it needs to sustain above 11785 in the coming session to move towards 11840 - 11900 .

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 . 

Had mentioned " Currently Nifty is in a trading range of 11525 - 11790 and it needs break beyond this range strongly for a bigger move." , and Nifty broke this range on the upside but has yet to give a close above it.

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 11815 to test 11835 - 11845 initially and sustaining above it we can see a further upmove till 11865 - 11890. Similarly breaking and sustaining below 11760 we can see a test of 11740 - 11730 initially and breaking and sustaining below it we can see a further correction till 11710 - 11685

Nifty Spot Levels for the day are

Long above 11815 for 11825 - 11845 - 11890 , SL 11795

Short below 11760 for 11750 - 11730 - 11685 , SL 11780

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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.