Tuesday, 17 September 2019

Nifty Spot Outlook for 18th Sep

NIFTY


In the previous session Nifty spot opened at 11000.10 which was also the high, made a low of 10796.50,  before closing at 10817.60


Had mentioned that long trade will get triggered for the day on sustaining above 11040 and short trade will get triggered for the day on sustaining below 10965. Nifty triggered our short trade and completed all targets giving 150 points. 

As mentioned earlier,
 
For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11175 and then enter for a initial target of 11280 - 11305 and look to hold further only on sustaining or getting a close above 11305 for the next targets of 11395 - 11490. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 10975 and then enter for a initial target of 10875 - 10850 and look to hold further only on sustaining or getting a close below 10850 for the next targets of 10760 - 10660.

Nifty today triggered our weekly short trade and completed our initial targets giving 175 points and a good exit . Now sustaining below 10850 in the coming sessions can see a test of 10760 - 10660 .


For the month of September , longs will get confirmed in Nifty with a consecutive close above 11270 for a initial target of 11530 - 11600 and sustaining / closing above 11600 we can see a further move till 11825 - 12070 .  Similarly shorts will get confirmed with a consecutive close below 10775 for  a initial target of 10515 - 10450 and sustaining / closing below 10450 we can see a further move till 10225 - 9975 . 


Now on the upside Nifty has immediate resistance near 11170 - 11270 in the coming sessions and only on getting a consecutive close above 11270 we can see a further upmove .


Also as previously mentioned also " On the downside Nifty has immediate support near 10870 - 10775 in the coming sessions and on getting a consecutive close below 10775 we can see the correction resume to break the lows made in August." , today Nifty made a low of 10796.50 and has closed near the lower end of the support zone and holding above 10775 will be crucial for a bounce this week.  


Now in the coming session Nifty needs to break and sustain above 10850 test 10885 - 10895 initially and sustaining above it we can see a further upmove till 10925 - 10955. Similarly breaking and sustaining below 10785 we can see a test of 10750 - 10740 initially and breaking and sustaining below it we can see a further correction till 10710 - 10680.


Nifty Spot Levels for the day are

Long above 10850 for 10870 - 10895 - 10955 , SL 10825

Short below 10785 for 10765 - 10740 - 10680 , SL 10810


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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 Nifty

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