Sunday, 22 September 2019

Nifty Spot Outlook for 23rd Sep

NIFTY


In the previous session Nifty spot opened at 10746.80 , made a low of 10691 , then made a high of 11381.90,  before closing at 11274.20


Had mentioned that long trade will get triggered for the day on sustaining above 10740 and short trade will get triggered for the day on sustaining below 10670. Nifty triggered our long trade and completed all targets for day and also nearly all long targets for the week giving  nearly 700+ points on the back of the announcements from the government regarding reduction in corporate tax and other measures.

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11490 and then enter for a initial target of 11720 - 11775 and look to hold further only on sustaining or getting a close above 11775 for the next targets of 11970 - 12190. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11060 and then enter for a initial target of 10830 - 10775 and look to hold further only on sustaining or getting a close below 10775 for the next targets of 10575 - 10360. 


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 in the coming sessions Nifty has to hold above 11170 and give a consecutive close above 11270 for a further upmove towards 11530 - 11600 . 

On the downside Nifty has immediate support near 11140 - 11060 in the coming sessions and on sustaining / closing below 11060 we can expect a move back towards 10830 - 10775. 

Now in the coming session Nifty needs to break and sustain above 11355 test 11440 - 11465 initially and sustaining above it we can see a further upmove till 11540 - 11620. Similarly breaking and sustaining below 11195 we can see a test of 11105 - 11085 initially and breaking and sustaining below it we can see a further correction till 11010 - 10930.


Nifty Spot Levels for the day are

Long above 11355 for 11405 - 11465 - 11620 , SL 11300

Short below 11195 for 11145 - 11085 - 10930 , SL 11250


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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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