Wednesday, 25 September 2019

Nifty Spot Outlook for 26th Sep

NIFTY


In the previous session Nifty spot opened at 11564.85 , made a high of 11564.95 , made a low of 11416.10,  before closing at 11440.20


Had mentioned that long trade will get triggered for the day on sustaining above 11680 and short trade will get triggered for the day on sustaining below 11495. Nifty triggered our short trade and completed 1 target . 


As mentioned previously, 

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. 

Nifty had triggered our weekly long trade and completed 200 points nearly testing our initial targets. Post that Nifty failed to sustain above 11720 for a further upmove and we saw it decline till 11416 this week so far. In the coming session if Nifty is unable to break and trade above 11535 then we can see a further correction towards 11385 - 11345.  


Also as have been mentioning ,

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 . 

Nifty had confirmed our monthly long trade and completed our initial targets with a high of 11694.85. Post that Nifty failed to sustain above 11600 for a move towards our next targets and has corrected back towards 11400 levels.



On the downside Nifty has immediate major support near 11450 - 11425 and today it has tested the support . Breaking and sustaining below 11425 we can see a further correction towards 11345 - 11315 zone. 


Now in the coming session Nifty needs to break and sustain above 11535 test 11630 - 11655 initially and sustaining above it we can see a further upmove till 11740 - 11835. Similarly breaking and sustaining below 11345 we can see a test of 11250 - 11225 initially and breaking and sustaining below it we can see a further correction till 11140 - 11050.


Nifty Spot Levels for the day are

Long above 11535 for 11590 - 11655 - 11835 , SL 11470

Short below 11345 for 11290 - 11225 - 11050 , SL 11410


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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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