Monday 29 April 2019

Nifty Spot Outlook for 30th Apr

NIFTY


In the previous session Nifty spot opened at 11683.75, made a low of 11661.75 , it made a high of 11762.90,  before closing at 11754.65

Had mentioned that long trade will get triggered for the day on sustaining above 11675 and short trade will get triggered for the day on sustaining below 11605. Nifty triggered our long trade and nearly completed all our targets giving 75+ points.


For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11850 and then enter for a initial target of 11950 - 11980 and look to hold further only on sustaining or getting a close above 11980 for the next targets of 12065 - 12160. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11660 and then enter for a initial target of 11560 - 11530 and look to hold further only on sustaining or getting a close below 11530 for the next targets of 11445 - 11350. 



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 and a strong close above it is required for further upmove towards 12000 levels. 



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 11790 to test 11830 - 11840 initially and sustaining above it we can see a further upmove till 11870 - 11910. Similarly breaking and sustaining below 11715 we can see a test of 11680 - 11670 initially and breaking and sustaining below it we can see a further correction till 11640 - 11600


Nifty Spot Levels for the day are

Long above 11790 for 11815 - 11840 - 11910 , SL 11765

Short below 11715 for 11695 - 11670 - 11600 , SL 11745

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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.

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