Thursday, 13 June 2019

Nifty Spot Outlook for 14th Jun

NIFTY


In the previous session Nifty spot opened at 11873.90, made a low of 11817.05 ,  made a high of 11931.35  ,  before closing at 11914.05


Had mentioned that long trade will get triggered for the day on sustaining above 11945 and short trade will get triggered for the day on sustaining below 11870. Nifty triggered our short trade and completed 2 targets giving 50 points and then took our TSL. 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11965 and then enter for a initial target of 12070 - 12095 and look to hold further only on sustaining or getting a close above 12095 for the next targets of 12185 - 12280. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11775 and then enter for a initial target of 11675 - 11645 and look to hold further only on sustaining or getting a close below 11645 for the next targets of 11560 - 11465. 


So far this week the market has been trading sideways and has not been able to give a strong close beyond the range of 11775 - 11965 .


For the month of June , longs will get confirmed in Nifty with a consecutive close above 12115 for a initial target of 12320 - 12370 and sustaining / closing above it we can see a further move till 12545 - 12735 .  Similarly shorts will get confirmed with a consecutive close below 11730 for  a initial target of 11525 - 11475 and sustaining / closing below it we can see a further move till 11300 - 11110 . 

Had mentioned in the previous weeks posts that " Nifty now has immediate resistance  at 12115 - 12140 and it needs to break and close above these levels for a further upmove and failing do so we can see a dip till 11805 - 11730 ." , and Nifty took resistance near 12115 - 12140 after making a high of 12103.05 last week and corrected to make a low of 11769.50 testing our expected levels of 11805 - 11730 . 

Now on the downside Nifty has immediate support near 11775 - 11730 and it needs to hold these levels this week for a bounce else we can see the correction extend further.


Now in the coming session Nifty needs to break and sustain above 11950 to test 11985 - 11995 initially and sustaining above it we can see a further upmove till 12025 - 12060. Similarly breaking and sustaining below 11880 we can see a test of 11845 - 11835 initially and breaking and sustaining below it we can see a further correction till 11805 - 11770


Nifty Spot Levels for the day are

Long above 11950 for 11970 - 11995 - 12060 , SL 11925

Short below 11880 for 11860 - 11835 - 11770 , SL 11905


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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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